Superior Insurance Protection — including E&O — for Escrow Companies
- Superior E&O Coverage Options ̶ because no one else has the product access we have
- The Best Protection at the Best Price — for Business Owner’s Policies, Surety Bonds, and Worker’s Compensation insurance
- Expert Pre-Claim Legal Services — to help prevent claims and lawsuits — included with your E&O plan
Escrow Errors and Omissions Insurance to Protect Your Business
As escrow professionals, you face specific risks in your daily activities that can cause legal problems, including:
- Breach of contract issues: if the instructions in a contract aren’t followed correctly or completely
- Breach of fiduciary duty issues: if one or both of the parties in a transaction believe you’ haven’t acted in their best interest
- Funding issues: failure to collect all funds in the transaction, funds released before all conditions are met, funds wired to the wrong account
- Payment issues: payoff amounts or closing costs miscalculated, failure to make appropriate payment
- Documentation issues: Incomplete documentation to ensure all the terms of the sale are met
Whether your staff followed the appropriate procedures, or a legitimate mistake was made, Errors and Omissions insurance can help protect your business.
Your company could be involved in a lawsuit that has no merit, or included in a lawsuit between the parties to the transaction. Defending yourself can amount to thousands to tens of thousands of dollars in defense costs (and potential damages).
Errors and Omissions insurance may help cover attorney fees for your defense, any judgments for damages, and other legal fees. Your plan may also cover notification costs for a computer breach, legal and other costs in responding to a subpoena, or defense costs for a disciplinary complaint.
Escrow E&O Includes Different Coverage than General Liability Insurance
General liability insurance protects you if others get injured or if their property is damaged during a covered activity. (Our Business Owner’s Policies include general liability coverage.)
But your escrow company should also have coverage for errors, omissions, or other actions that may be referred to as “malpractice” (whether real or alleged) — all not typically covered under a general liability policy.
With a CRES E&O + ClaimPrevent® plan, you’ll enjoy extensive protection you won’t find in generic E&O policies or your general liability policy. And with all CRES insurance options, we’ll get you the best protection for the best price.
Why Escrow Companies choose CRES
- Extensive Coverage for Better Value
Your E&O plan is designed to protect you from the specific risks you face daily in your Escrow activities. And for all of your insurance needs, we have unparalleled resources and access to policy options that few other brokers have.
- Coverage You Can Count On
CRES policies are backed by A.M. Best A-rated carriers.
- Choose How Your Plan Works
You choose your policy limits, retention (out-of-pocket claims expense limit), and payment plan (fixed annual payment or per-transaction plan)
- ClaimPrevent ® Legal Advice Included
You’ll have experts to talk to whenever issues arise — without adding to your costs. We’ll help small issues from escalating, to help you actually PREVENT claims
All CRES E&O policies provide coverage for past transactions for as long as you’ve had continuous E&O insurance (from any company).
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Read each policy for a full comparison of coverage and benefits. Certain restrictions apply. All coverage is subject to Underwriting and other qualifications.