(B) Every owner registering as a passenger car a motor vehicle designed and used for carrying more than nine but not more than fifteen passengers or registering a bus under division (G) of section 4503.04 of the Revised Code shall have in effect, whenever the motor vehicle is used in a ridesharing arrangement, a policy of liability insurance with respect to the motor vehicle in amounts and coverage no less than:

1. (1) One hundred thousand dollars because of bodily injury to or death of one person in any one accident;
2. (2) Three hundred thousand dollars because of bodily injury to or death of two or more persons in any one accident;
3. (3) Fifty thousand dollars because of injury to property of others in any one accident.