(a) Notwithstanding any provision of any law or regulation, a motor carrier that is required to register under Subchapter B and whose primary business is transportation for compensation or hire between two or more municipalities shall protect its employees by obtaining:
(1) workers' compensation insurance coverage as defined under Subtitle A, Title 5, Labor Code; or
(2) accidental insurance coverage approved by the department from:
(A) a reliable insurance company authorized to write accidental insurance policies in this state; or
(B) a surplus lines insurer under Chapter 981, Insurance Code.
(b) The department shall determine the amount of insurance coverage under Subsection (a)(2). The amount may not be less than:
(1) $300,000 for medical expenses for at least 104 weeks;
(2) $100,000 for accidental death and dismemberment;
(3) 70 percent of an employee's pre-injury income for at least 104 weeks when compensating for loss of income; and
(4) $500 for the maximum weekly benefit.