(a) The department shall issue a license to each qualified applicant who applies for a service company license.
(b) An applicant for the issuance or renewal of a license under this section must:
(1) submit to the department a certificate of insurance evidencing that the applicant has an insurance policy that meets the requirements of § 2310.160 effective for the period for which the license is to be issued or renewed; and
(2) meet any other requirements provided by commission rule.