Final answer:
One option listed doesn't result in license suspension: failure to maintain errors and omissions insurance. Conviction of a felony, violation of insurance laws or regulations, and failure to pay licensing fees can lead to license suspension.
Step-by-step explanation:
The suspension of an insurance agent's license can occur for multiple reasons. However, one of the options listed, failure to maintain errors and omissions insurance, is not a cause for license suspension.
A common requirement for insurance agents is to have errors and omissions (E&O) insurance, which provides protection in case of professional mistakes or negligence. While it is strongly recommended that insurance agents maintain this insurance to protect themselves, their clients, and their businesses, failure to do so typically does not result in license suspension.
On the other hand, conviction of a felony, violation of insurance laws or regulations, and failure to pay licensing fees can indeed result in the suspension of an agent's license. These actions demonstrate misconduct or non-compliance with legal and professional requirements, and they may result in disciplinary actions by regulatory agencies.