(a)  Notwithstanding any other law, statute, rule, or regulation to the contrary, a peer-to-peer car sharing program shall have an insurable interest in a shared vehicle during the car sharing period.

(b)  Nothing in this section creates liability on a peer-to-peer car sharing program to maintain the coverage mandated by § 27-8.3-4.

(c)  A peer-to-peer car sharing program may own and maintain as the named insured one or more policies of motor vehicle liability insurance that provides coverage for:

(1)  Liabilities assumed by the peer-to-peer car sharing program under a peer-to-peer car sharing program agreement;

(2)  Any liability of the shared vehicle owner; or

(3)  Damage or loss to the shared motor vehicle; or any liability of the shared vehicle driver.