Nevada License Law
What is the Nevada 'errors and omissions' (E&O) insurance requirement for real estate licensees?
AE&O insurance is optional in Nevada but recommended by NREC
BNevada requires all real estate licensees to maintain errors and omissions insurance as a condition of license renewal, protecting clients from financial harm due to a licensee's professional mistakes✓ Correct
COnly brokers are required to carry E&O insurance in Nevada
DE&O insurance is provided automatically by NRED at no cost to licensees
Explanation
Nevada requires licensees to maintain E&O insurance as a condition of license renewal (NRS 645.256). E&O insurance covers claims arising from the licensee's professional errors, omissions, and negligent acts. It protects both the licensee (from personal financial ruin) and clients (who have a source of recovery for legitimate claims). Nevada's mandatory E&O requirement is part of the state's consumer protection framework.
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