All inactive licensees are required to maintain Errors and Omissions Insurance. All active licensees are required to maintain Errors and Omissions Insurance. Licensees required to carry Errors and Omissions Insurance may procure coverage through an individual policy. The Commission is responsible for sending notice of deficiency to those licensees who have not submitted proof of insurance. What is the requirement for maintaining Errors and Omissions Insurance for licensees?
1) Only inactive licensees are required to maintain Errors and Omissions Insurance
2) Only active licensees are required to maintain Errors and Omissions Insurance
3) All licensees are required to maintain Errors and Omissions Insurance
4) Licensees are not required to maintain Errors and Omissions Insurance