Proof of coverage by satisfactory liability insurance shall be furnished by filing with the Director of the Bureau of Motor Vehicles, the written certificates of any insurance carrier admitted and duly authorized to do business in the Virgin Islands, certifying that there is in effect a motor vehicle liability policy for the benefit of the person required to furnish proof of coverage by satisfactory liability insurance. Such certificate, the form of which shall be prescribed by the Commissioner of Insurance, shall designate by explicit description or by appropriate reference all vehicles covered thereby, and shall give the effective date of such motor vehicle liability policy, which date shall (i) be the same as or earlier than the effective date of the certificate, and (ii) terminate upon the policy's expiration; provided, however that the policy shall provide coverage for at least one (1) year.