11 NCAC 08 .1006             insurance requirements

(a)  To be licensed as a home inspector, an applicant must meet the requirements set forth in G.S. 143-151.51(b) including general liability insurance that meets the following requirements:

(1)           The general liability insurance policy must cover the licensee's activities performed during the course of a home inspection on the premises of the home inspection; and

(2)           The general liability insurance policy must include coverage for both property damage and bodily injury coverage.

(b)  The amount of the surety bond required in G.S. 143-151.51(b) shall be at least five thousand dollars ($5,000).  Any surety bond shall be written by a surety company that is authorized by the Commissioner of Insurance to do business in this State.

 

History Note:        Authority G.S. 143-151.49(a)(13); 143-151.51;

Codifier determined that agency findings did not meet criteria for temporary rule Eff. October 15, 1996;

Temporary Adoption Eff. October 24, 1996;

Eff. July 1, 1998;

Amended Eff. October 1, 2011.