SECTION 595:25-5-4. Insurance

(a)   Liability for operator's negligent acts. Each operator, from the time of movement of or otherwise making contact with any vehicle to be towed, may be liable for injury to persons, damage to property, fire or theft resulting from the operator's negligent acts.

(b)   Certificate of insurance. The Certificate of Insurance form must be obtained from and submitted by an insurance company authorized to do business in the State of Oklahoma.

(1)   The operator is responsible for ensuring the submission of the Certificate of Insurance form when applying for an initial license, renewal of the insurance, changing a business name or changing the business address.

(2)   The name and address of the applicant, the operator or business name shown on the Certificate of Insurance form must be the same as the name and address on the application and/or wrecker service license. The applicant or operator is responsible for ensuring that the insurance information on file with the Department reflects the correct name and address of the insured. The address for all storage facilities must be included on the form.

(3)   Any time an operator changes insurance company during a policy period, a new Certificate of Insurance form shall be submitted by the new insurance provider showing at least the minimum coverage.

(4)   The Certificate of Insurance form shall show the make, year, and vehicle identification number for each wrecker vehicle and wrecker support vehicle licensed by the Department.

(c)   Insurance policy. The insurance policy shall be issued for a period of at least six (6) months and shall protect the public against loss of life, bodily injury to person, and damage to property in the following amounts:

(1)   Class G General or Class AA.

(A)   Bodily Injury and Property Damage - Not less than One Hundred Thousand Dollars ($100,000.00) combined single limit coverage for bodily injury and/or property damage as a result of the operation of the wrecker vehicle and/or as a result of the on-hook vehicle causing the bodily injury and/or property damage.

(B)   Garagekeeper's Legal Liability - Not less than Fifty Thousand Dollars ($50,000.00) in Garagekeeper's Legal Liability with a deductible no greater than five hundred dollars ($500.00), which must include comprehensive perils to the towed vehicle while being stored by the wrecker operator. Any General class wrecker service which does not have storage facilities shall be exempt from the provisions of this subparagraph.

(C)   On-Hook or In-Tow - Not less than Fifty Thousand Dollars ($50,000.00) in On-Hook or In-Tow Coverage with a deductible no greater than Five Hundred Dollars ($500.00),which must include comprehensive perils and collision to the towed vehicle while it is being towed by the wrecker operator.

(2)   Class AA-TM.

(A)   Bodily Injury and Property Damage - Not less than Two Hundred Thousand Dollars ($200,000.00) combined single limit coverage for bodily injury and/or property damage as a result of the operation of the wrecker vehicle and/or as a result of the on-hook vehicle causing the bodily injury and/or property damage.

(B)   Garagekeeper's Legal Liability - Not less than One Hundred Thousand Dollars ($100,000.00) in Garagekeeper's Legal Liability with a deductible no greater than five hundred dollars ($500.00), which must include comprehensive perils to the towed vehicle while being stored by the wrecker operator.

(C)   On-Hook or In-Tow - Not less than One Hundred Thousand Dollars ($100,000.00) in On-Hook or In-Tow Coverage with a deductible no greater than Five Hundred Dollars ($500.00), which must include comprehensive perils and collision to the towed vehicle while it is being towed by the wrecker operator.

(3)   Class AA-TL.

(A)   Bodily Injury and Property Damage - Not less than Three Hundred Thousand Dollars ($300,000.00) combined single limit coverage for bodily injury and/or property damage as a result of the operation of the wrecker vehicle and/or as a result of the on-hook vehicle causing the bodily injury and/or property damage.

(B)   Garagekeeper's Legal Liability - Not less than One Hundred Fifty Thousand Dollars ($150,000.00) in Garagekeeper's Legal Liability with a deductible no greater than five hundred dollars ($500.00), which must include comprehensive perils to the towed vehicle while being stored by the wrecker operator.

(C)   On-Hook or In-Tow - Not less than One Hundred Fifty Thousand Dollars ($150,000.00) in On-Hook or In-Tow Coverage with a deductible no greater than Five Hundred Dollars ($500.00), which must include comprehensive perils and collision to the towed vehicle while it is being towed by the wrecker operator.

(4)   All Wrecker Classes. Bailee Coverage - Not less than Two Thousand Five Hundred Dollars ($2,500.00) for loss of contents of the vehicle with a deductible not greater than Five Hundred Dollars ($500.00).

(c)   Judgment. Any final judgment rendered by a court of competent jurisdiction against a wrecker service or an owner or employee thereof, arising out of any services provided by the operator of or any employee of the wrecker service, including towing or storage of towed vehicles, must be satisfied within thirty (30) days. If such judgment is not timely satisfied, the wrecker license shall be revoked and such revocation shall remain in effect until the judgment is satisfied. Provided, however, a release or written agreement signed by the judgment creditor and approved by the Department shall reinstate eligibility. Provided, if judgment is covered by insurance up to the amount and to the extent required in the rules, this Subsection shall not apply.

(d)   Carrier certification. The insurance company of each wrecker service shall certify to the Department on a form prescribed by the Department that the insurance company will notify the Department in writing at least ten (10) days before the date the company cancels such policy.

(e)   Insurance information. An operator shall provide contact and other pertinent information regarding the insurance company and policy covering the wrecker service to any person who might be eligible to file a claim against the operator's insurance policy.

(f)   A notice from the insurance company to the Department of insurance cancellation for non-payment of the premium shall be sufficient reason for suspension of the wrecker service license.

[Source: Amended at 18 Ok Reg 3124, eff 1-1-02; Amended at 19 Ok Reg 246, eff 1-1-02 (emergency); Amended at 19 Ok Reg 2711, eff 7-15-02; Amended at 21 Ok Reg 3011, eff 7-25-04; Amended at 22 Ok Reg 2700, eff 7-25-05; Amended at 26 Ok Reg 2775, eff 7-25-09; Amended at 31 Ok Reg 2335, eff 9-12-14]