Types of financial protection.

(a) The amounts of financial protection required under this part may be furnished and maintained in the form of: (1) An effective policy of liability insurance from private sources; or (2) Adequate resources to provide the financial protection required by § 140.11, § 140.12; § 140.13 or § 140.13a; or (3) Such other type of financial protection as the Commission may approve; or (4) Any combination of the foregoing. (b) In any case where the Commission has approved proof of financial protection filed by a licensee the licensee shall not substitute one type of financial protection for another type without first obtaining the written approval of the Commission. [25 FR 2944, Apr. 7, 1960, as amended at 42 FR 49, Jan. 3, 1977]