Yes insurance is required while operating an ATV on the ice. Minimum requirement is liability. Yes a CO can issue a fine for not having liabilty insurance. I know this for a fact. I was fined $145.00 for not having insurance by a CO three years ago. Now I have smaretened up a bit, carry full insurance, liabilty, fire, theft, collison. Fine was $145.00, Full insurance for a full year - $360.00.