2006 New York Code - Bond Requirements.

 
    §  26-178  Bond  requirements.  a. Prior to the issuance of any master
  rigger license, the applicant shall file with the department a liability
  bond in the form of a personal bond with at least two sureties, approved
  by the commissioner, or a corporate surety bond, or policy of insurance,
  in a solvent and responsible company authorized to do business  in  this
  state,  approved  by  the  commissioner,  in  the  sum of fifty thousand
  dollars conditioned for the payment of any  judgment  recovered  against
  such  rigger  for the death of or for injury to any person caused in the
  operation, maintenance or use of any rigging equipment or while  engaged
  in any rigging operation. Such bond or policy may limit the liability of
  the  surety  or insurer on any one judgment to the sum of fifty thousand
  dollars for bodily injury or death, and on all judgments recovered  upon
  claims  arising  out  of  the same transaction or transactions connected
  with the same subject of action, to the  sum  of  one  hundred  thousand
  dollars,  to  be  apportioned  ratably  among  the  judgment  creditors,
  according to the amount of their respective judgments; and such bond  or
  policy  of  insurance shall contain a provision for continuing liability
  thereunder, notwithstanding any recovery thereon.
    b. Prior to the issuance of any master rigger  license  the  applicant
  shall  also  file with the department a property damage bond in the form
  of a  personal  bond  with  at  least  two  sureties,  approved  by  the
  commissioner, or a corporate surety bond, or a policy of insurance, in a
  solvent and responsible company authorized to do business in this state,
  approved  by  the  commissioner,  in  the  sum  of ten thousand dollars,
  conditioned for the payment  of  any  judgment  recovered  against  such
  rigger  for  damage  to,  or  destruction  of,  property  caused  in the
  operation, maintenance or use of any rigging equipment or while  engaged
  in any rigging operation. Such bond or policy of insurance shall contain
  a  provision  for a continuing liability thereunder, notwithstanding any
  recovery thereon.
    c. Prior to the issuance of any special rigger license, the  applicant
  shall file with the department a liability bond similar to that required
  of a master rigger, except that the limits thereof shall be ten thousand
  dollars  and  twenty thousand dollars, respectively, and shall also file
  with the department a property damage bond similar to that required of a
  master rigger, except that the  limit  thereof  shall  be  one  thousand
  dollars.