The commissioner shall: (1) require insurance coverage for a combatant to provide for medical, surgical, and hospital care for injuries sustained in the ring in an amount of at least $10,000 and payable to the combatant as beneficiary; and (2) require life insurance for a combatant in the amount of at least $10,000 payable in case of accidental death resulting from injuries sustained in the ring. The cost of the insurance required by this section is payable by the promoter.
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