4921.11 Liability insurance certificate, policy or bond to be filed with commission. - Ohio Statutes

4921.11 Liability insurance certificate, policy or bond to be filed with commission.

(A) As used in this section, “motor transportation company” has the same meaning as in section 4921.35 of the Revised Code.

(B) No certificate of public convenience and necessity shall be issued by the public utilities commission to any motor transportation company until it has filed with the commission a liability insurance certificate, policy, or bond satisfactory to the commission, in such sum and with such provisions as the commission deems necessary adequately to protect the interests of the public, having due regard for the number of persons and amount of property affected. Such liability insurance certificate, policy, or bond shall insure such company against loss sustained by reason of the death of or injuries to persons and for loss of or damage to property resulting from the negligence of such company.

(C) No such certificate of public convenience and necessity shall be issued to a company until it has filed with the commission a freight cargo insurance certificate, policy, or bond that the commission has determined to be adequate to protect the interests of the shipping public. Such freight cargo insurance certificate, policy, or bond shall insure such company against all loss, in excess of one thousand dollars and within the limits fixed in such certificate, policy, or bond, sustained by reason of any loss or damage to the property being transported.

(D) A certificate, policy, or bond required by this section shall provide that ten days’ notice in writing shall be given to the commission of intention to cancel such insurance certificate, policy, or bond. If a certificate, policy, or bond is canceled during its term or lapses for any reason, the commission shall require the company to replace it with another certificate, policy, or bond fully complying with the requirements of this section. In default of such replacement, all operations under the certificate of public convenience and necessity shall cease immediately, and further operations shall not be conducted without the specific approval of the commission, which may be given after the motor transportation company has complied with this section. The commission shall not reinstate a certificate of public convenience and necessity until a satisfactory insurance certificate, policy, or bond has been filed.

(E) To ensure minimum standards of protection of the consumer’s household goods, the commission may adopt rules governing requirements for cargo insurance for motor transportation companies engaged, for hire, in the business of transporting household goods over a public highway in this state. As used in this division, “household goods” has the same meaning as in section 4921.35 of the Revised Code.

Effective Date: 09-30-1998