Sec. 8. For purposes of this article, "proof of financial responsibility" means proof of the ability to satisfy a claim for damages arising from liability for the ownership, maintenance, or use of an aircraft, in the following amounts:
(1) One hundred thousand dollars ($100,000) for the bodily injury or death of one (1) person.
(2) Two hundred thousand dollars ($200,000) for the bodily injury or death of two (2) or more persons in any one (1) accident.
(3) One hundred thousand dollars ($100,000) for damage to property in any one (1) accident.