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This form is primarily required by private security companies operating in Texas. It must be filed by businesses that hold a Private Security License and need to provide proof of liability insurance coverage. For instance, a newly established security firm must submit this form to the Texas Department of Public Safety to validate their insurance before commencing operations. Additionally, existing firms may need to refile this document when renewing their insurance policies or changing coverage details.
To file the PSP 05 form, companies must ensure that it is completed accurately and submitted within specific deadlines set by the Texas Department of Public Safety. The certificate must reflect current insurance coverage and be filed whenever there are changes in policy or at least annually during license renewal periods.
Submitting the PSP 05 form involves several straightforward steps. First, obtain the latest version of the template from DocHub or directly from the Texas Department of Public Safety's website. After filling out all required fields accurately, you can choose to send it via email, fax, or traditional mail based on your preference.
It's crucial for applicants to note that any changes in insurance coverage require an updated submission of this certificate. Furthermore, if an insurer decides to terminate coverage, they must provide a ten-day notice before such termination takes effect. This ensures that private security companies maintain continuous compliance with state regulations.
