N.J. Admin. Code § 13:40-15.8

Current through Register Vol. 56, No. 21, November 4, 2024

Section 13:40-15.8 - Insurance requirement

(a) All licensees engaged in the profession of home inspection shall maintain an errors and omissions insurance policy in the minimum amount of $ 500,000 per occurrence and file proof of the policy with the Committee.

(b) Every proof of an errors and omissions policy required to be filed with the Committee shall provide that cancellation or nonrenewal of the policy shall not be effective unless and until the Committee has received at least 10 days written notice of intention to cancel or nonrenew.

(c) Both the licensee and the insurance company shall provide written notification to the Committee at least 10 days prior to the discontinuation of the errors and omissions policy.

N.J. Admin. Code § 13:40-15.8

Amended by 52 N.J.R. 46(a), effective 1/6/2020