This bill amends Section 5-65-7 of the General Laws in Chapter 5-65 Registration and Licensing Board. The amendment requires contractors to have errors and omissions insurance, public liability and property damage insurance, and workers' compensation insurance. The amount of coverage required for the insurance is set at five hundred thousand dollars ($500,000) combined single limit, bodily injury and property damage. Contractors must provide evidence of the insurance at the time of registration and renewal, and failure to maintain the required insurance may result in fines, suspension, or revocation of registration. The bill will take effect upon passage.

Statutes affected:
5413: 5-65-7