All anesthesiologist assistants shall carry malpractice insurance or demonstrate proof of financial responsibility. Any applicant for licensure shall submit proof of compliance or exemption to the Board office prior to licensure. All licensees shall submit such proof as a condition of biennial renewal or reactivation. Acceptable proof of financial responsibility shall include: 1. Professional liability coverage of at least One Hundred Thousand Dollars ($100,000.00) per claim with a minimum annual aggregate of at least Three Hundred Thousand Dollars ($300,000.00) from an authorized insurer, a surplus lines insurer, a joint underwriting association, a self-insurance plan, or a risk retention group; or 2. An unexpired irrevocable letter of credit, which is in the amount of at least One Hundred Thousand Dollars ($100,000.00) per claim with a minimum aggregate availability of at least Three Hundred Thousand Dollars ($300,000.00) and which is payable to the anesthesiologist assistant as beneficiary. Any person claiming exemption from the financial responsibility law must timely document such exemption at initial certification, biennial renewal, and reactivation.
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