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IIARI Agent Alert
9/21/2006
Contractor minimum liability limits set at 500K...

IIARI-Agent Alert !

For the past month or so, IIARI has been in contact with the RI Contractors Registration Board seeking clarification regarding new legislation, Bill #8245. This bill requires that ALL contractors now maintain minimum liability limits to $500,000. After receiving our most recent clarification, this piece of legislation was passed and in effect as of July 17th. This is a different interpretation then originally received! The Contractors Registration Board is in the process of sending out postcards to all licensed contractors regarding the new limits, but in efforts to limit your E&O exposure, each agency should notify your contractor clients.

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