Have you ever overlooked something small that could have big repercussions? Most real estate professionals have. But this is just one case where some Risk Management, aka ‘claim prevention services’ can save the day.
One Friday the CRES ClaimPrevent® Risk Management Hotline (available to CRES E&O policyholders as part of your E&O insurance) received a frantic call. The caller forgot to check the “Multiple Offers” box and sent acceptance offers to multiple buyers. You can imagine the stress.
We immediately assigned our local attorney and obtained releases from all but one buyer that weekend. Instead of multiple plaintiffs in a lawsuit, we resolved the matter before a claim was filed!
Without the CRES ClaimPrevent® Risk Management service, the choices would have been to:
Try and resolve it on her own (not advisable)
Hire an attorney (expensive)
Lie awake at night wondering if she would be sued
Instead, there was relief because ClaimPrevent® Risk Management’s nationwide network of attorneys are available 7 days a week to answer questions, give advice, and draft or review letters, addendums, or documents for you (all included in your E&O policy).
When you take advantage of ClaimPrevent® Risk Management services, it’s not considered a claim — so there’s no retention (out-of-pocket claims expense) or effect on your policy cost to worry about. ClaimPrevent® Risk Management services can help you head off issues before they become lawsuits or claims and help you sleep better.
Worried about an issue that you think might turn into a claim? Call the CRES Stress Less hotline. We want to hear from you so our Risk Management attorneys can give you relief from worry.
Have you had a contract review or situation where you could have used our legal advisory services in your real estate business? Tell us about it below.
This blog/website is made available by CRES Insurance Services for educational purposes to give you general information and understanding of legal risks and insurance options, not to provide specific legal advice. This blog/website should not be used as a substitute for competent legal advice from a licensed professional attorney in your state. Claims examples are for illustrative purposes only. Read your policy for a complete description of what is covered and excluded.
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