§ 86-2-7. Insurance requirements.

(a)

Except as otherwise provided by Subsection (d) or (e) of this Section, Permittees will not offer Shared Mobility Devices for hire unless there is in full force and effect a liability insurance policy for each Shared Mobility Device in the amount of at least $1,000,000.00 for property damages, bodily injury, or death to any person, and in the amount of at least $5,000,000.00 for property damages, bodily injuries, or death to more than one person sustained in the same accident.

(b)

Such insurance policy will provide coverage for any liability during the operation of the Shared Mobility Device to include any actual or alleged negligence of Shared Mobility Device riders and inure to the benefit of any person who may be injured or the estate in the event of death, or to the benefit of any persons sustaining damage to property for which the Permittee may be liable.

(c)

Liability insurance may be in the form of commercial general liability insurance, automobile liability insurance, or another specialty insurance policy covering all owned, non-owned, borrowed, leased, or rented Shared Mobility Devices for claims arising from the ownership, maintenance, and use of any Shared Mobility Device by the rider and may be a combination of primary and excess or umbrella liability policy.

(d)

Evidence of such insurance will be filed with the Director prior to the issuance of any Shared Mobility Device certificates and will include provisions for notice by the insurance carrier to the Director prior to termination of such coverage.

(e)

Permittees will maintain all insurance requirements for Shared Mobility Devices as required by the Commonwealth of Virginia. (42-19-86.)