An owner’s policy of liability insurance:
(1) shall designate by explicit description or appropriate reference all vehicles with respect to which coverage is thereby to be granted;
(2) shall insure the person named therein and any other person who uses the vehicle or vehicles with the express or implied permission of the named insured against loss from liability imposed by law for damages arising out of the ownership, maintenance or use of the vehicle or vehicles, subject to limits exclusive of interest and costs, with respect to each such vehicle, as follows:
(A) $10,000 for bodily injury to or death of one person in any one accident;
(B) subject to said limit for one person, $20,000 for bodily injury to or death of 2 or more persons in any one accident;
(C) $5,000 for injury to or destruction of property of others in any one accident;
(3) shall, if the vehicle is being used in the transportation of passengers for hire, including taxicabs, insure the driver and all fare-paying passengers therein against loss from the liability imposed by law for damages arising out of the ownership, maintenance or use of the vehicle or vehicles, subject to limits exclusive of interest and costs, with respect to each vehicle as follows:
(A) $10,000 for bodily injury to or death of 1 person;
(B) $50,000 for bodily injury to or death of 2 or more persons in any one accident;
(C) $10,000 for injury to or destruction of property of others in any one accident.
History: 1972, PL 12-65 § 1; amd 1979, PL 16-3 § 3.
Amendments: 1979 Paragraph (3) (A): lowered dollar amount from $25,000 to $10,000.