A company entering the Colorado market is documenting rules for financial responsibility. Which statement is accurate?
Correct Answer
C) Colorado individual E&O coverage must be at least $100,000 per covered claim with at least a $300,000 annual aggregate and a deductible no greater than $1,000, or $20,000.
Colorado individual E&O coverage must be at least $100,000 per covered claim with at least a $300,000 annual aggregate and a deductible no greater than $1,000, or $20,000 for policies primarily insuring reverse mortgage transactions.
Why This Is the Correct Answer
Colorado individual E&O coverage must be at least $100,000 per covered claim with at least a $300,000 annual aggregate and a deductible no greater than $1,000, or $20,000 for policies primarily insuring reverse mortgage transactions.
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A licensing coordinator documents a Utah advertising approval and needs one rule for continuing education and renewal. Which statement belongs in the file?
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