| (4) Acceptable filings. The motor carrier's insurer
must file proof of insurance with the department in a form prescribed
by the department and approved by an authorized agent of the insurer.
(f) Cancellation of insurance coverage. Except when
replaced by another acceptable form of insurance coverage or proof
of financial responsibility approved by the department, no insurance
coverage shall be canceled or withdrawn until 30 days after notice
has been given to the department by the insurer in a form approved
by the department. Nonetheless, proof of insurance coverage for a
seven day or 90 day certificate of registration may be canceled by
the insurer without 30 days' notice if the certificate of registration
is expired, suspended, or revoked, and the insurer provides a cancellation
date on the proof of insurance coverage.
(g) Replacement insurance filing. The department will
consider a new insurance filing as the current record of financial
responsibility required by this section if:
(1) the new insurance filing is received by the department;
and
(2) a cancellation notice has not been received for
previous insurance filings.
(h) Insolvency of insurance carrier. If the insurer
of a motor carrier becomes insolvent or becomes involved in a receivership
or other insolvency proceeding, the motor carrier must file an affidavit
with the department. The affidavit must be executed by an owner, partner,
or officer of the motor carrier and show that:
(1) no accidents have occurred and no claims have arisen
during the insolvency of the insurance carrier; or
(2) all claims have been satisfied.
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