Licensee Responsibilities
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General Insurance Adjusting

Errors & Omissions Insurance

All licensees, including an adjusting firm, must be covered under an E&O insurance policy with a minimum limit of $1 million per claim and a minimum aggregate limit of $2 million.

Any licensee that does not meet the minimum coverage requirements of Rule 7(11) must immediately cease conducting any insurance activities and must notify Council within 5 business days. Read Council Rule in full for more information. Council is conducting audits to ensure compliance and is taking disciplinary action where the required coverage is not in place.

Adjusting Firm Supervision

Each nominee is responsible for all insurance activities of the firm. Each firm is different in its make-up of licensees and nature of business; therefore it is the responsibility of the nominee to determine the appropriate level of supervision. Should Council inquire, nominees and supervisors will be required to clearly demonstrate the appropriateness of the supervision provided and they will be held accountable for their decisions.

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