1. As used in this section, "owner" means the owner of a motor vehicle, the owner's agent, employee or independent contractor.
2. The superintendent may not approve any policy required pursuant to Title 29‑A, section 1612, unless coverage is provided for both the owner and operator of the motor vehicle.
3. The owner's policy must provide primary coverage up to the limits specified in Title 29‑A, section 1612. Any other valid and collectible insurance policy available to an operator who is not the owner must provide excess coverage.