Administrative Rules of Montana
Department 24 - LABOR AND INDUSTRY
Chapter 24.182 - BOARD OF PRIVATE SECURITY
Subchapter 24.182.4 - General Provisions
Rule 24.182.405 - INSURANCE AND SURETY BOND REQUIREMENTS

Universal Citation: MT Admin Rules 24.182.405

Current through Register Vol. 18, September 20, 2024

(1) The following licensees must carry insurance in the following amounts and types:

(a) Private investigators - a minimum of $500,000 occurrence form of commercial general liability which includes personal injury.

(b) Electronic security companies - a minimum of $500,000 occurrence form of commercial general liability which includes personal injury and errors and omissions coverage.

(c) Private security firms - a minimum of $500,000 occurrence form of commercial general liability which includes personal injury.

(d) Private security firearms instructors - a minimum of $500,000 occurrence form of commercial general liability which includes personal injury and errors and omissions coverage.

(2) Process servers must maintain a surety bond in the amount of $10,000 for an individual or $100,000 for a firm. A levying officer may not levy on a judgment that exceeds the value of the bond.

(3) The following licensees must carry firearms liability insurance coverage:

(a) armed private investigators;

(b) private security firearms instructors; and

(c) private security firms who employ armed private security guards.

(4) An insurance carrier providing insurance under this rule must be:

(a) licensed in the state in which the insurance was purchased and covered by that state's insolvency fund; or

(b) licensed in the state of Montana.

(5) Licensees subject to this rule must:

(a) immediately inform the department of the cancellation or lapse of required insurance coverage or surety bond; and

(b) direct and authorize the insurance carrier to inform the department of cancellation or lapse of the licensee's required insurance coverage or surety bond.

(6) Licensees must maintain the insurance coverage or surety bond required by this rule at all times of active licensure status.

AUTH: 37-60-202, MCA; IMP: 25-1-1111, 37-60-202, MCA

Disclaimer: These regulations may not be the most recent version. Montana may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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