(a) No operational licenses shall be issued to any transporter of commercial medical waste unless that transporter shows evidence that:
(1) Each vehicle used for the transportation of commercial medical waste is covered by liability insurance in an amount specified by the Department of Health; and
(2) The liability insurance is issued by a company authorized to do business in this state by the State Insurance Department.
(b) Companies providing liability insurance for any transporter of commercial medical waste shall notify the Department of Health of the cancellation of any policy providing liability coverage to a transporter at least thirty (30) days before cancellation.