Errors and Omissions Insurance
Insurance Checklist for Real Estate Professionals: What you need and how to get the most out of your insurance
As a real estate professional, you face risks every day. The best plan of action is to take a proactive approach and manage that risk, rather than being reactive to liability issues that arise. Wouldn’t you rather prevent lawsuits before they happen? What can you do to protect yourself from liability in your real estateRead More
CRES Real Estate E&O Per Transaction Policies
Running a real estate or mortgage brokerage business can be costly, especially in tough economic times like now. When you need to pay real estate Errors and Omissions insurance premiums upfront, this adds financial pressure, which can put a significant strain on cash flow for your business. Yet ,this is how traditional E&O insurance policiesRead More
How a CRES Seller’s Protection Plan Can Boost Your Real Estate Business
Did you know that your sellers are the main target of real estate lawsuits (based on our 20+ years of claims history)? That’s why CRES offers the Seller’s Protection Plan, available exclusively to CRES Errors & Omissions (E&O) Insurance clients. What is the CRES Seller’s Protection Plan and What Does It Cover? A homeowner’s insuranceRead More
What Real Estate Brokers Need to Know About Cyber Liability Coverage
Cyber security is a growing issue globally, and the real estate industry is particularly vulnerable because the transactions you’re dealing with are of such high value. This, unfortunately, provides sufficient incentive for criminals to try and make a quick dollar. According to the Forbes Real Estate Council, real estate wire fraud is one of theRead More
What Real Estate Brokers Need to Know About Fidelity and Crime Bonds
Are you a real estate broker managing multiple real estate agents, either as employees or contractors? As the number of people within your team increases, so does your risk. And, as a real estate broker, it’s important to mitigate these risks and ensure your business is adequately protected. Fidelity and Crime Bonds are one wayRead More
Protecting Yourself Against Contingent Liability
As a real estate agent, it’s important to understand what contingent liabilities are and what’s covered under your E&O insurance. A contingent liability is a liability or debt that may or may not occur depending on the outcome of a specific event. Common examples in the real estate industry are lawsuits and pending investigations, asRead More
Subpoena Coverage: Who Needs It and Why
Recently, a CRES client, a real estate broker, received such a subpoena. One of his former agents had been the listing agent for the family home of the divorcing couple. Although there didn’t appear to have been any assertions made against the broker or the former agent, the broker had been subpoenaed. In this case,Read More
How to Protect Yourself from the Most Common E&O Claims with Better Coverage
Hopefully, you’ve never been sued, had to go to trial, or had a real estate E&O claim. It’s not fun. What can make an already stressful situation even more stressful is if you don’t have Errors and Omissions insurance coverage — or enough coverage, or even the right coverage. You buy insurance thinking it’s goingRead More
A Real Estate Broker’s Guide to Per-Transaction E&O
If you’re looking to purchase or renew your real estate Errors and Omissions insurance for your office, you may want to consider a Per-Transaction payment option. With a Per-Transaction payment, you don’t need to pay the full year’s policy premium upfront. Instead, you pay a monthly amount, based on the transactions you complete each month,Read More
Expanding Your Real Estate Services? Don’t Forget to Expand Your E&O to Cover the Risks
Have you expanded your real estate services since you last renewed your real estate E&O insurance? Are you sure you have coverage for everything you’re now engaged in? (If you have a “generic” E&O policy used for many industries, you may not be covered for many of your real estate activities.) Changes in real estateRead More