Wyoming Administrative Code
Agency 018 - Real Estate Commission
Sub-Agency 0002 - Real Estate Commission
Chapter 7 - ERRORS AND OMISSIONS INSURANCE
Section 7-4 - Minimum standards

(a) Not less than one hundred thousand dollars single-limit liability coverage for each licensee per occurrence or claim made, not including costs for investigation or defense;

(b) An annual aggregate limit of not less than five hundred thousand dollars per licensee;

(c) A deductible amount for each occurrence of not more than one thousand dollars for single-limit liability coverage and one thousand dollars maximum additional deductible for defense and investigation;

(d) An extended reporting provision of ninety days and an option to purchase an additional three years extended reporting provision for a premium not to exceed two hundred percent of the premium charged for the last year of the terminating coverage;

(e) Coverage under this section for covered acts in any state, United States territory, or Canada in which a covered individual, domiciled in Wyoming, holds a license;

(f) A conformity endorsement allowing a Wyoming resident licensee to meet the errors and omissions insurance requirement for an active license in another group mandated state without the need to purchase separate coverage in that state;

(g) Stacking of benefits;

(h) Proration of premiums for coverage that is purchased during the course of a calendar year but with no provision for refunds of unearned premiums;

(j) The ability of a licensee, upon payment of an additional premium, to obtain higher or excess coverage or to purchase additional coverages from the group carrier as may be determined by the carrier;

(k) The coverage is individual and license-specific and will cover the licensee regardless of changes in employing Responsible Broker; and

(l) Prior acts coverage shall be offered to licensees with continuous past coverage.