N.M. Admin. Code § 16.66.9.10

Current through Register Vol. 35, No. 23, December 10, 2024

Section 16.66.9.10 - PROFESSIONAL LIABILITY INSURANCE

A. A licensee's or applicant's professional liability insurance policy shall be, at a minimum, in the amount of $250,000.

B. The professional liability insurance policy must include coverage for the licensee's activities performed during the course of a home inspection on the premises of the home inspection.

C. The professional liability insurance policy must include coverage for both property damage and bodily injury.

D. Every proof of a professional liability insurance policy shall stipulate that cancellation or nonrenewal of the policy shall not be effective until at least ten days' notice of intention to cancel or not renew has been received in writing by the board.

N.M. Admin. Code § 16.66.9.10

Adopted by New Mexico Register, Volume XXXI, Issue 23, December 15, 2020, eff. 1/15/2021