law
Mandatory E&O Insurance (Montana)
Under MCA 37-51-325, every Montana broker and salesperson with an active license must maintain continuous professional liability (errors and omissions) insurance for the entire licensing period. Applicants for a new license or renewal must provide proof of coverage, such as a policy copy, certificate of insurance or binder. Failing to keep coverage is unprofessional conduct, and a licensee who cannot produce proof when the Board asks faces administrative suspension or discipline. Inactive licensees are not required to carry it.
- Exam tip
- Coverage must be continuous for the whole licensing period, not just at renewal; inactive licensees are exempt.
- Example
- A salesperson lets her E&O policy lapse mid-year while still active; she has committed unprofessional conduct even if no claim arises.
Related terms & state variants
Sources
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Last verified: 2026-10-23