C.R.S.
Section 12-130-111
Professional liability
- insurance
(1)
The shareholders, members, or partners of an entity that practices landscape architecture are liable for the acts, errors, and omissions of the employees, members, and partners of the entity, except when the entity maintains a qualifying policy of professional liability insurance as set forth in subsection (2) of this section.(2)
Intentionally left blank —Ed.(a)
A qualifying policy of professional liability insurance shall meet the following minimum standards:(I)
The policy shall insure the entity against liability imposed upon it by law for damages arising out of the negligent acts, errors, and omissions of all professional and nonprofessional employees, members, and partners; and(II)
The insurance shall be in a policy amount of at least seventy-five thousand dollars multiplied by the total number of landscape architects in or employed by the entity, up to a maximum of five hundred thousand dollars.(b)
In addition, the policy may include:(I)
A provision stating that the policy shall not apply to the following:(A)
A dishonest, fraudulent, criminal, or malicious act or omission of the insured entity or of any stockholder, employee, member, or partner of the insured entity;(B)
The conduct of a business enterprise that is not the practice of landscape architecture by the insured entity;(C)
The conduct of a business enterprise in which the insured entity may be a partner or that may be controlled, operated, or managed by the insured entity in its own or in a fiduciary capacity, including, but not limited to, the ownership, maintenance, or use of property;(D)
Bodily injury, sickness, disease, or death of a person; or(E)
Damage to, or destruction of, tangible property owned by the insured entity;(II)
Any other reasonable provisions with respect to policy periods, territory, claims, conditions, and ministerial matters.
Source:
Section 12-130-111 — Professional liability - insurance, https://leg.colorado.gov/sites/default/files/images/olls/crs2023-title-12.pdf
(accessed Oct. 20, 2023).