D.C. Mun. Regs. tit. 17, r. 17-3902

Current through Register Vol. 71, No. 50, December 13, 2024

Rule 17-3902 - INSURANCE

3902.1

Prior to the issuance of a license, each applicant shall furnish to the Director a certificate of insurance, issued by an insurer authorized to insure in the District with a credit rating of B+ or higher by A.M. Best Company, evidencing commercial general liability insurance as follows:

(a) If the applicant is applying for a Class A license: limits of at least two and a half million dollars ($2,500,000) per occurrence (primary or umbrella) for bodily injury and property damage arising in any way from the issuance of the license;

(b) If the applicant is applying for a Class B license: limits of at least one and a half million dollars ($1,500,000) per occurrence (primary or umbrella) for bodily injury or property damage arising in any way from the issuance of the license;

(c) If the applicant is applying for a Class C license: limits of at least five hundred thousand dollars ($500,000) per occurrence, one million dollars ($1,000,000) in the aggregate combined single limit, for bodily injury or property damage arising in any way from the issuance of the license;

(d) If the applicant is applying for a Class D license: limits of at least five hundred thousand dollars ($500,000) per occurrence, one million dollars ($1,000,000) in the aggregate combined single limit, for bodily injury or property damage arising in any way from the issuance of the license; and

(e) If the applicant is applying for a Class E license: limits of at least five hundred thousand dollars ($500,000) per occurrence for bodily injury or property damage arising in any way from the issuance of the license.

3902.2

Each insurance policy required under this chapter shall include a provision requiring thirty (30) days advance notice to the Director prior to cancellation or lapse of the policy. The licensee shall maintain the insurance required under this chapter in full force and effect for the duration of the license period.

3902.3

A single violation of this section shall be grounds for the Director to suspend or revoke the license.

3902.4

Each insurance policy required by this chapter shall name the District of Columbia Treasurer as an additional insured on a primary, non-contributory basis.

D.C. Mun. Regs. tit. 17, r. 17-3902

Final Rulemaking published at 56 DCR 3103 (April 24, 2009)

Authority: The creation of this new license category was authorized by the Fiscal Year 2009 Budget Support Act of 2008, D.C. Law 17-219, effective August 16, 2008.