Property Management
In Wyoming, a property manager should maintain which minimum level of professional liability (E&O) insurance?
ANo insurance is required for property managers
BSufficient coverage to protect against foreseeable claims arising from property management activities✓ Correct
CCoverage equal to the value of all managed properties
DCoverage set by the Wyoming Real Estate Commission for all managers
Explanation
While Wyoming may not mandate a specific minimum E&O insurance amount for all property managers, professional best practices require sufficient coverage to protect against foreseeable claims—errors in lease drafting, missed maintenance issues, improper tenant screening, etc. Coverage levels should reflect the scope of management operations.
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