N.M. Admin. Code § 19.8.14.1414 - TERMS AND CONDITIONS FOR LIABILITY INSURANCE
A. The director shall require the applicant
to submit as part of its permit application a certificate issued by an
insurance company authorized to do business in the United States certifying
that the applicant has a public liability insurance policy in force for the
surface coal mining and reclamation operations for which the permit is sought.
Such policy shall provide for personal injury and property damage protection in
an amount adequate to compensate any persons injured or property damaged as a
result of the surface coal mining and reclamation operations, including the use
of explosives, and who are entitled to compensation under the applicable
provisions of state law. Minimum insurance coverage for bodily injury and
property damage shall be $300,000 for each occurrence and $500,000
aggregate.
B. The policy shall be
maintained in full force during the life of the permit or any renewal thereof,
including the liability period necessary to complete all reclamation operations
under 19.8.14 NMAC.
C. The policy
shall include a rider requiring that the insurer notify the director whenever
substantive changes are made in the policy including any termination or failure
to renew.
D. The director may accept
from the applicant, in lieu of a certificate for a public liability insurance
policy, a commitment to self-insure for bodily injury and property damage, if
the director has approved a self-bond for the applicant in accordance with
19.8.14.1410
NMAC.
Notes
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