What is the minimum amount of insurance a firm must carry for each incident?

The minimum amount of insurance a firm must carry for each incident is $100,000. This requirement is established to ensure that there is a sufficient financial safeguard in place to cover potential damages or liabilities arising from fire alarm system failures or related incidents. The insurance acts as a protective measure, allowing firms to manage risk effectively and ensuring that they can cover any claims that may arise due to their services. This amount is generally considered an adequate balance between affordability for firms and sufficient coverage for potential damages, reflecting standard practices in the industry. The other amounts listed are either below or above the established minimum, which may not meet regulatory standards or best practices in risk management.