Local Rule RULE 4070-1: INSURANCE

RULE 4070-1 INSURANCE

(a) Required Proof of Insurance.

(1) Upon request, proof of insurance against physical damage and loss must be furnished to the trustee and the creditor within ten (10) days of such request.

(2) Failure to furnish proof of insurance within ten (10) days of any request will be presumed to mean no insurance is in effect.

(3) The proof of insurance must state that coverage will continue for at least ninety (90) days from the date of the Section 341 meeting.

(4) If there is already a ninety (90) day policy in effect at the time of the Section 341 meeting, the debtor must ensure that there are ninety (90) days remaining on the policy at the time of the Section 341 meeting.

(5) However, if the debtor presents proof of paid coverage for the ninety (90) day period immediately preceding the policy in effect at the time of the Section 341 meeting, as well as proof of payment for the ninety (90) day policy currently in effect, the debtor may extend the policy at its normal renewal date.

(6) If the debtor fails to furnish proof of insurance as requested, the stay shall be deemed terminated upon the filing of a certification of non-insurance.

(b) Proof of Insurance Defined. "Proof of Insurance" shall mean: (1) a certificate of insurance or such other written evidence of sufficient reliability from an insurance carrier; (2) that states that collision and liability insurance is in force for a minimum of ninety (90) days from the meeting of creditors; (3) that states the amounts and types of coverage; and (4) lists the secured party as loss payee.