Richards Seeley & Schaefer

Colorado now requires a minimum of $100, 000 in E&O professional liability insurance coverage per licensed mortgage broker for each covered claim. The state further mandates an annual aggregate limit of at least $300, 000. 00 per licensed personal, and a deductible of $5, 000 or less. When this policy takes effect in January 2008, Colorado will join the ranks of a dozen other states that require this kind of professional liability coverage.