The bill amends the existing law regarding insurance requirements for licensed home inspectors in Arkansas. It specifies that a home inspector is required to carry a professional liability insurance policy or an errors and omissions insurance policy that is approved by the State Insurance Department for the home inspections they perform. This replaces the previous requirement for general liability insurance.

Additionally, the bill establishes that the coverage limits for this insurance must be no less than one hundred thousand dollars ($100,000). This change aims to ensure that home inspectors have adequate insurance coverage to protect both themselves and their clients during the inspection process.

Statutes affected:
Old version HB1625 Original - 2-27-2025 04:09 PM: 17-52-318(a)
Old version HB1625 V2 - 3-13-2025 10:35 AM: 17-52-318(a)
HB 1625: 17-52-318(a)
Act 974: 17-52-318(a)