Which of the following statements regarding the Commercial Automobile Insurance procedure (CAIP) is NOT true?

The statement regarding the Commercial Automobile Insurance procedure (CAIP) that is NOT true is that risks requiring higher limits of $50,000 are eligible for coverage. This is because CAIP typically focuses on providing coverage for commercial vehicles at standard limits, which can vary by state, but higher limits are not the primary focus or eligibility requirement of the program.

CAIP is designed to cater specifically to high-risk drivers, ensuring they have access to necessary auto insurance regardless of their previous driving history. Additionally, it is structured to accommodate businesses that use vehicles primarily for commercial purposes, ensuring that their unique risk profiles are adequately covered. The premiums offered through CAIP are reflective of the calculated risks associated with the business, which helps align the cost of coverage with the actual exposure.

In summary, while options A, C, and D reflect accurate aspects of the CAIP, option B inaccurately suggests a requirement that does not align with the program's intention and structure, emphasizing its need to cater to various risk levels without specifically mandating higher coverage limits for eligibility.