Or. Admin. Code § 259-059-0120 - General Liability Insurance
(1) Private
security entities must be covered by a general liability insurance policy that
includes public liability, personal injury, and property damage insurance
covering all aspects of the private security services being provided.
(2) The general liability insurance policy
must name the private security entity as the primary insured with minimum
liability limits of $1,000,000 per occurrence and $2,000,000 in the
aggregate.
(3) The proof of the
existence of adequate insurance required for the application for licensure must
include the name of the private security entity, the insured amounts, the
policy number, the policy expiration date, and the name, business address, and
phone number of the insurance company.
(4) Private security entities must maintain
general liability insurance at all times.
(5) If the general liability insurance is
cancelled or the private security entity changes insurance companies, the
private security entity must:
(a) Notify the
Department in writing within 10 business days of the cancellation or change;
and
(b) Submit proof of insurance
to the Department within 10 business days of the effective date of the new
policy.
(6) If the
private security entity is a public body as defined in ORS 30.260, upon
approval by the Department, the private security entity may meet its obligation
to maintain general liability insurance through:
(a) The purchase of insurance as described in
this rule;
(b) The use of
self-insurance or assessments paid under ORS 30.282 that is substantially
similar to the types and amounts of insurance coverage described in this rule;
or
(c) A combination of any or all
of the foregoing.
Notes
Statutory/Other Authority: ORS 181A.870 & ORS 181A.900
Statutes/Other Implemented: ORS 181A.900
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