Title 20, Chapter 2, Section 2011
(a) The Commissioner shall require each administrator to have and
maintain a fidelity bond in an amount which the Commissioner deems
appropriate but which is not less than $100,000.00.
(b) Errors and omissions coverage or other appropriate liability
insurance in an amount which is not less than that specified by the
rules and regulations of the Commissioner shall be maintained at all
times by an administrator of a fund; and a certificate by the
insurer or other appropriate evidence of such coverage shall be
filed with the Commissioner by the fund.
(c) Each administrator shall maintain an office in this state for
the payment, processing, and adjustment of the claims of the fund or
funds which it represents.