Indiana Code
Chapter 7. Regulated Amusement Devices
22-15-7-2.5. Certificate of Insurance; Insurance Policy; Coverage; Exceptions

Sec. 2.5. (a) Except as provided in subsection (g) or (h), the department may not issue a permit under this chapter until the applicant has filed with the department a certificate of insurance indicating that the applicant has liability insurance:
(1) in effect with an insurer that is authorized to write insurance in Indiana on the operation of regulated amusement devices; and
(2) except for an applicant that is subject to the provisions of IC 34-13-3, that provides coverage to a limit of at least:
(A) one million dollars ($1,000,000) per occurrence and five million dollars ($5,000,000) in the annual aggregate;
(B) five hundred thousand dollars ($500,000) per occurrence and two million dollars ($2,000,000) in the annual aggregate if the applicant operates only:
(i) a ski lift;
(ii) a surface lift or tow; or
(iii) both items (i) and (ii); or
(C) one million dollars ($1,000,000) per occurrence and two million dollars ($2,000,000) in the annual aggregate if the applicant operates only regulated amusement devices that are designed to be used and are ridden by persons who are not more than forty-two (42) inches in height.
(b) An insurance policy required under this section may include a deductible clause if the clause provides that any settlement made by the insurance company with an injured person or a personal representative must be paid as though the deductible clause did not apply.
(c) An insurance policy required under this section must provide by the policy's original terms or an endorsement that the insurer may not cancel the policy without:
(1) thirty (30) days written notice; and
(2) a complete report of the reasons for the cancellation to the division.
(d) An insurance policy required under this section must provide by the policy's original terms or an endorsement that the insurer shall report to the department within twenty-four (24) hours after the insurer pays a claim or reserves any amount to pay an anticipated claim that reduces the liability coverage to a limit of less than one million dollars ($1,000,000) because of bodily injury or death in an occurrence.
(e) If an insurance policy required under this section:
(1) is canceled during the policy's term;
(2) lapses for any reason; or
(3) has the policy's coverage fall below the required amount;
the permittee shall replace the policy with another policy that complies with this section.
(f) If a permittee fails to file a certificate of insurance for new or replacement insurance, the permittee:
(1) must cease all operations under the permit immediately; and
(2) may not conduct further operations until the permittee receives the approval of the department to resume operations after the permittee complies with the requirements of this section.
(g) The department may issue a permit under this chapter to an applicant that:
(1) is subject to IC 34-13-3; and
(2) has not filed a certificate of insurance under subsection (a);
if the applicant has filed with the department a notification indicating that the applicant is self-insured for liability.
(h) The department may reduce the annual aggregate liability insurance coverage required under subsection (a)(2)(A) to one million dollars ($1,000,000) in the annual aggregate for an applicant that:
(1) operates only regulated amusement devices that are bull ride simulators that are multiride electric units with bull ride attachments; and
(2) otherwise complies with the requirements of this chapter.
As added by P.L.166-1997, SEC.7. Amended by P.L.141-2003, SEC.21; P.L.166-2005, SEC.2; P.L.1-2006, SEC.403; P.L.187-2021, SEC.123.