No amusement ride shall be operated unless at the time of operation the owner has an insurance policy in effect written by an insurance company authorized to do business in this state insuring the owner and operator against liability for injury to persons arising out of the operation of such amusement ride. Such insurance policy shall be in amounts not less than the minimum amounts established by the State Fire Marshal. Such minimum amounts shall be established with due regard to the protection of the general public and the availability of insurance coverage, but such minimum amounts shall not be less than one million dollars per occurrence and three million dollars aggregate. The State Fire Marshal may require a separate insurance policy from the owner of any equipment used in an amusement ride, subject to the minimums and limitations provided in this section.