A.(1) All active practicing licensed home inspectors shall carry errors and omissions insurance to cover all activities contemplated under this Chapter.
(2) The board shall establish the terms and conditions of errors and omissions insurance coverage, including but not limited to the permissible deductible, limits of liability, and permissible exclusions. Such terms and conditions shall be established by rule in accordance with the Administrative Procedure Act.
(3) Each licensee shall file with the board a certificate of coverage showing compliance with the required terms and conditions of coverage by the annual license renewal date.
B. In addition to general errors and omissions insurance, all active licensees shall carry general liability insurance to cover all activities contemplated under this Chapter.