(a) Under residual liability insurance the insurer is liable to pay, on behalf of the owner or other persons insured, sums which the owner or insured is legally obligated to pay as damages because of bodily injury and property damage arising out of the ownership, maintenance or use of a private passenger motor vehicle as a motor vehicle if the injury or damage occurs within the United States of America, its territories or possessions or Canada. (b) Residual liability insurance shall afford coverage which satisfies the requirements of sections 38a-334 to 38a-336a , inclusive, 38a-338 , and 38a-340 to 38a-343 , inclusive.
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