September 13, 2010 by Canadian Underwriter
Saskatchewan insurance agents, brokers and adjusters will be required as of Nov. 1, 2010 to provide their provincial regulator with a copy of new minimum errors and omissions (E&O) limits when filing their annual reporting forms.
Effective August 2010, the Insurance Councils of Saskatchewan changed its bylaws, requiring agents, brokers and adjusters to carry new minimum E&O limits of $1 million in coverage and a minimum aggregate limit of $2 million.
The E&O insurance must be underwritten by an insurance company licensed to do business in Canada.
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