What Professional Liability (E&O) Insurance Requirements Apply in Maine?

Maine exchange facilitators must maintain at least $100,000 in E&O or deposit $100,000 in cash, securities, or an irrevocable letter of credit. The law covers paid like-kind exchange intermediaries and related roles handling Maine property, so confirm the provider's statutory role before applying the requirement to a different professional.

What Is Professional Liability (E&O) Insurance?

Professional liability can help pay defense costs and covered losses when a client says your advice or service caused financial harm. If customers rely on your work, list every service you provide and check the claims-made reporting and prior-work terms. Read the national Professional errors and omissions (E&O) guide.

Maine Professional Liability (E&O) Insurance Requirements

Requirement	Details
Exchange facilitator E&O or security	E&O policy of at least $100,000 or $100,000 cash, securities, or irrevocable letter of credit ²

What to Watch for With Professional Liability (E&O) in Maine

Confirm the Provider Fits the Definition
Maine's definition covers a paid facilitator that handles a taxpayer's Maine relinquished property through qualified-intermediary, exchange-accommodation-titleholder, trustee, or escrow-holder arrangements, plus specified in-state offices and solicitations. Ask the provider which role it performs for your exchange before treating this E&O mandate as applicable. ¹
Ask Which Financial-Security Route Applies
The statute permits a $100,000 E&O policy or a deposit of equal value in cash, securities, or an irrevocable letter of credit. Request documentation of the route the facilitator uses; the law does not require every facilitator to buy an insurance policy. ²
Review the Exchange-Fund Controls Separately
Maine separately requires facilitators to act as custodians for client exchange funds and bars specified commingling and affiliated transfers. E&O proof alone does not show how your funds are held, so ask for the qualified escrow or trust arrangement and withdrawal authorization terms. ^2,³
Verify the Current Statute Text
The Maine Legislature pages cited here show text extracted October 20, 2025. Before relying on the $100,000 terms for a new transaction, confirm that no later amendment changed §§ 1395–1398. ^2,¹

Providers With Maine License Records

These providers publish a national listing for Professional errors and omissions (E&O); the license records below name the licensed entities and roles. Some records rely on company-reported information rather than independent regulator verification. A national listing does not confirm the product is available in Maine. Check the regulator’s license lookup and confirm state availability for your business when requesting a quote.

At-Bay
Insurance producer, Surplus-lines broker · checked 2026-09-28
At-Bay Insurance Services LLC
At-Bay’s license page lists P&C producer and surplus-lines broker license numbers for all 50 states and the District of Columbia. These are company disclosures and do not establish product availability in each jurisdiction. ¹⁰
At-Bay offers primary miscellaneous professional liability insurance.
Coalition
Insurance producer, Surplus-lines broker · checked 2026-09-28
Coalition Insurance Solutions, Inc.
Coalition’s license page lists producer and surplus-lines licenses for Coalition Insurance Solutions, Inc. in all 50 states and the District of Columbia. The page separately lists insurers; this record covers the brokerage entity only. ¹¹
Coalition offers miscellaneous professional liability as an addition to eligible Active Cyber policies.
Corgi
Insurance producer · checked 2026-09-28
Corgi Insurance Services, Inc.
Corgi’s company producer-license table lists 50 jurisdictions: 49 states and the District of Columbia, including DC license 3003091619. New Mexico does not appear in the table and is not included here; the omission does not establish that Corgi is unlicensed there. The company-reported table has no stated as-of date and does not establish product availability. ¹²
Corgi lists miscellaneous errors and omissions coverage for service-based businesses.
ERGO NEXT Insurance
Insurance producer · checked 2026-09-28
Next First Insurance Agency, Inc.
ERGO NEXT’s current license table lists Next First Insurance Agency, Inc. in 50 jurisdictions, including Washington, DC; New York is excluded because its table rows name Next Insurance Services and AP Intego, not Next First. The table is company-reported; it does not establish product availability or provide state-regulator verification for each entry. ¹⁴
ERGO NEXT lists professional liability insurance, also called errors and omissions insurance.
Hiscox
Insurer · checked 2026-09-28
Hiscox Insurance Company Inc.
Hiscox’s U.S. company information states that Hiscox Insurance Company Inc. is licensed in all 50 states and the District of Columbia. This is company-reported insurer authority for this entity and does not establish which company issues every Hiscox-branded product. ¹³
Hiscox offers professional errors and omissions insurance for small businesses.
TechInsurance
Insurance producer · checked 2026-09-28
Specialty Program Group LLC
TechInsurance’s current licensing page names Specialty Program Group LLC / SPG Insurance Solutions and lists state license numbers, but labels Rhode Island “Individual licenses” rather than identifying a license for the named agency. RI is omitted because this disclosure does not establish agency authority there; this is a search limitation, not an assertion that the company is unlicensed. The remaining state entries are company-reported and are not an insurance product availability map. ¹⁵
TechInsurance arranges professional errors and omissions insurance for small businesses.
Vouch
Insurance producer, Surplus-lines broker · checked 2026-09-28
Vouch Specialty Insurance Services, LLC
Vouch’s licenses page, effective January 16, 2025, lists producer licenses in all 50 states and DC. Its separate surplus-lines table includes Idaho number 870820, while a footnote says Georgia and Idaho do not issue agency-level surplus-lines licenses. Because those statements conflict for Idaho, this record keeps Idaho producer-only and does not treat the table number as established agency surplus-lines authority. The page is company-reported and does not establish product availability. ¹⁶
Vouch lists errors and omissions among the core coverages in its professional-services programs.

Who Regulates Insurance in Maine?

Maine Bureau of Insurance

The Maine Bureau of Insurance licenses producers and companies, enforces Maine insurance laws, and investigates property and casualty complaints including commercial coverage complaints. You can use its state lookup or complaint service to check a license or raise an insurance issue. ^4,^5,⁶

Website: Regulator website
License lookup: Search licensed producers
Complaints: File a complaint
Phone: 800-300-5000

Surplus-Lines Tax and Stamping Office in Maine

Reported tax rate. 3% of gross direct premium when Maine is the insured's home state ^7,^8,⁹

Maine charges 3% of gross direct premium when it is the insured's home state; your broker handles the tax and may include it with the premium. Surplus-lines policies are outside Maine guaranty-association protection. Maine generally requires a diligent search, with an exempt-commercial-purchaser exception requiring broker disclosure and the purchaser's written request.

Questions to Ask Before You Buy Professional Liability (E&O) in Maine

Which role under Maine's exchange-facilitator definition are you performing in my transaction?
Are you using the E&O policy or the permitted deposit alternative, and can you show current evidence?
Where will exchange funds be held, and whose written authorization is required for a withdrawal?

Professional Liability (E&O) Insurance in Maine: FAQ

Do Maine exchange facilitators need E&O insurance?

They must maintain at least $100,000 in E&O or use a permitted $100,000 cash, securities, or irrevocable-letter-of-credit deposit; the law does not require insurance if the facilitator uses that alternative. ²

Does Maine’s exchange-facilitator E&O law apply to every real estate professional?

No. It applies to an exchange facilitator as defined in Maine law, including specified paid like-kind-exchange intermediary and custody roles involving Maine property. ^1,²

Sources for Professional Liability (E&O) Insurance in Maine

1
Maine Revised Statutes, Title 10 § 1395. Maine Legislature, Office of the Revisor of Statutes; § 1395(3)–(4), client and exchange-facilitator definitions. Accessed 2026-09-28.
2
Maine Revised Statutes, Title 10 § 1397. Maine Legislature, Office of the Revisor of Statutes; § 1397(2), E&O or alternative financial security; PL 2009, c. 61. Accessed 2026-09-28.
3
Maine Revised Statutes, Title 10 § 1398. Maine Legislature, Office of the Revisor of Statutes; § 1398(1), exchange-fund custody and prohibited uses. Accessed 2026-09-28.
4
Maine Bureau of Insurance. Maine Bureau of Insurance; Homepage and commercial insurance resources. Accessed 2026-09-28.
5
Insurance License Lookup. Maine Bureau of Insurance; State-designated producer/company search. Accessed 2026-09-28.
6
File an Insurance Complaint. Maine Bureau of Insurance; State complaint process and contact. Accessed 2026-09-28.
7
36 M.R.S. §2531. Maine Legislature; 36 M.R.S. §2531(1)-(2), current page: home-state basis; 3% tax; producer pays on chapter 19 surplus lines. Accessed 2026-09-28.
8
24-A M.R.S. §4433. Maine Legislature; Surplus-lines contracts excluded from guaranty association. Accessed 2026-09-28.
9
24-A M.R.S. §2002-A. Maine Legislature; ECP disclosure and written-request procedure. Accessed 2026-09-28.
10
Licenses. At-Bay; Current producer introduction and state table; At-Bay Insurance Services LLC; P&C and surplus-lines identifiers. Accessed 2026-09-21.
11
Licenses and Carriers. Coalition; Licenses and Carriers, re-read 22 September 2026: Insurance Licenses table for Coalition Insurance Solutions, Inc., national producer number 18419475, with producer and surplus-lines numbers for all 50 states and DC including California 0L76155, Georgia 196479, Texas 2199630 and 2205589, Pennsylvania 815731 and 817452, Colorado 539028 and Wisconsin 3000108852. Insurance Carriers table naming, with NAIC numbers, Allianz Underwriters Insurance Company 36420, Arch Specialty Insurance Company 21199, Ascot Specialty Insurance Company 45055, Ascot Insurance Company 23752, Aspen Specialty Insurance Company 10717, Chaucer Insurance Company DAC, Coalition Insurance Company 29530, Fireman's Fund Indemnity Corporation 11380, Fortegra Specialty Insurance Company 16823, Lloyd's of London, MSIG Specialty Insurance USA Inc. 34886, MS Transverse Specialty Insurance Company 41807, Steadfast Insurance Company 26387, Vantage Risk Specialty Insurance Company 16275 and Zurich American Insurance Company 16535. Accessed 2026-09-22.
12
Insurance Producer Licenses. Corgi Insurance; Current complete Insurance Producer Licenses table for Corgi Insurance Services, Inc.; 50 rows covering 49 states and DC (DC 3003091619); no New Mexico row; no NPN or as-of date shown. Accessed 2026-09-28.
13
About Hiscox US Insurance. Hiscox; Hiscox Insurance Company Inc. NAIC 10200 as Chicago, IL domiciled insurer admitted or licensed in all 50 states and D.C.; Hiscox Inc. as general agent and Lloyd’s coverholder for Syndicates 33 and 3624; surplus-lines placements through licensed surplus-lines brokers; A.M. Best rating statement. Accessed 2026-09-16.
14
Licenses. ERGO NEXT Insurance; Current entity-by-state license table reopened 28 September 2026: 50 rows under Next First Insurance Agency, Inc., including Washington, DC; New York rows instead list Next Insurance Services PC-1423070 and AP Intego BR-1198885. Accessed 2026-09-28.
15
Insurance Licenses by State. TechInsurance; Current state table; identifies TechInsurance as a division of Specialty Program Group LLC d/b/a SPG Insurance Solutions; lists DC 3000041536 and labels Rhode Island “Individual licenses,” without an agency license number. Accessed 2026-09-28.
16
Licenses. Vouch; Effective 16 January 2025: Vouch Specialty Insurance Services, LLC, NPN 19926463; P&C table (50 states and DC); surplus-lines table includes Idaho 870820; footnote says Georgia and Idaho do not issue agency-level surplus-lines licenses; Idaho retained as producer-only due to conflict. Accessed 2026-09-15.

What Professional Liability (E&O) Insurance Requirements Apply in Maine?

What Is Professional Liability (E&O) Insurance?

Maine Professional Liability (E&O) Insurance Requirements

What to Watch for With Professional Liability (E&O) in Maine

Confirm the Provider Fits the Definition

Ask Which Financial-Security Route Applies

Review the Exchange-Fund Controls Separately

Verify the Current Statute Text

Providers With Maine License Records

At-Bay

Coalition

Corgi

ERGO NEXT Insurance

Hiscox

TechInsurance

Vouch