§ 5-65.1-10 - Insurance requirements.
SECTION 5-65.1-10
§ 5-65.1-10 Insurance requirements. –(a) Every licensed home inspector and associate home inspector shall secure,maintain, and file with the board a certificate of insurance for an errors andomissions policy and a certificate of insurance for a general liability policy;both shall be for a minimum amount of five hundred thousand dollars ($500,000)in the aggregate. These certificates must be valid from the date a license isissued until the license expires. This proof shall be deemed satisfactory ifthe policy is carried by the corporation, partnership or franchise for whichthe home inspector is a contracted employee and the home inspector or associatehome inspector is specifically covered by such policy.
(b) Every proof of an errors and omissions or generalliability policy required to be filed with the board shall not be effectiveunless it provides that the insurance may not be canceled until at least ten(10) days notice of intention to cancel or to not renew has been received inwriting by the board.
(c) Failure of the licensee or corporation or partnership tomaintain this insurance will result in the immediate loss of his or her license.