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Q Office of the Lieutenant Governor Division of Banking and Insurance Virgin Islands #5049 Kongens Gade, Charlotte Amalie, St. Thomas, USVI 00802-6487 @ (340) 774-7166 @ Fax (340) 774-9458 1131 King Street, Suite 101, Christiansted, St. Croix, USVI 00820 @ (340) 773-6459 @ Fax (340) 719-3801 BULLETIN 2011-08 TO: ALL RENTAL CAR AGENCIES, AUTOMOBILE INSURERS AND ADJUSTERS TRANSACTING INSURANCE BUSINESS IN THE TERRITORY RE: COMPULSORY AUTOMOBILE LIABILITY INSURANCE Section 703. Owner’s Policy An owner’s policy of liability insurance, hereinafter referred to as the “motor vehicle liability policy”: (a) Shali designate by explicit description, or by other appropriate reference inclusive of the vehicle identification number, all vehicles with respect to which coverage is to be granted; and (b) Shall insure the person named therein and any other person, as an insured, using any such vehicle or vehicles with the express or implied permission of such named insured, against loss from the liability imposed by law for damages arising out of the ownership, maintenance, or use of such vehicle or vehicles in the Virgin Islands, subject to minimum coverage, exclusive of interest and costs, with respect to each vehicle, as follows: Bodily Injury Bodily Injury Two or More Property One Person Persons Damage One Accident One Accident One Accident (1) Private passenger $10,000 $20,000 $10,000 vehicles, trucks with a carrying capacity of three quarter (3/4) ton or less and other passenger carrying vehicles not otherwise listed. (2) Taxicabs, with $10,000 $25,000 $10,000 passenger capacity not exceeding nine, including driver; and rental vehicles. (3) Trucks with a carrying $10,000 $25,000 $10,000 capacity exceeding three % ton and all other non- passenger vehicles. (4) Buses, except those $10,000 $50,000 $10,000 upon which the Public Services Commission Requires higher minimum coverage, with passenger capacity of ten or more, including driver. (5) Motorcycles and other $10,000 $20,000 $10,000 Two or three-wheeled motorized vehicles. It was brought to the Division of Banking and Insurance attention that there are rental car agencies, insurers and adjusters who are utilizing 20V.I.C.418(c) in regards to the limit of liability insurance on rental vehicles instead of 20V.I.C.703. Please note, Act Number 6287 dated August 17, 1999 as codified in 20V.I.C.703 supersedes all section(s) under Chapter 38, Title 20 VI Code in contradiction with 703. Section 703(b)(2), which provides the minimum coverage an owner of a vehicle shall maintain, specifically references rental vehicles; thus, it our position the Virgin Islands Legislature intended Act Number 6287, the Compulsory Automobile Liability Insurance Act to supersede any prior sections of the Code contradictory to such provision. Accordingly, any licensee not acting in compliance with 20 V.I.C. 703 would be in violation of Virgin Islands law. Dated this /? a day of December, 2011 on St. Thomas, U.S. Virgin Islands feb 2 berate John D. McDonald Director