The Secretary may adopt regulations requiring a private home detention monitoring agency to maintain a specific minimum amount of general liability insurance. If the Secretary adopts regulations under subsection (a) of this section, a private home detention monitoring agency shall: submit proof of the insurance to the Secretary; and notify the Secretary if the insurance is canceled, forfeited, or otherwise terminated. If the Secretary adopts regulations under subsection (a) of this section, the Secretary may not issue a license to an applicant unless the applicant submits proof of the insurance required by regulation.