Reference no: EM132950847

Question - Gustav has just recently completed the Life Licence Qualification Program (LLQP) in accident and sickness insurance. He is an independent licensed representative acting on behalf of Incantel Insurance Brokerage, but he is not employed by Incantel. What amount of professional liability insurance coverage is Gustav required to have for errors and omissions?

a) minimum $500,000 per claim; minimum $500,000 per 12-month period; minimum $5,000 deductible

b) minimum $500,000 per claim; minimum $1,000,000 per 12-month period; maximum $10,000 deductible

c) minimum $1,000,000 per claim; minimum $500,000 per 12-month period; minimum $5,000 deductible

d) minimum $1,000,000 per claim; minimum $1,000,000 per 12-month period; maximum $10,000 deductible