Why You Need E&O Insurance (by Industry, and Individual)
Do You Need an Individual E&O Policy?
Are you covered under your firm’s real estate E&O policy? If you’re not, your family’s personal assets and your livelihood could be at risk should you be named in a real estate lawsuit, even a frivolous one. The average E&O lawsuit costs more than $40,000 — are you prepared to pay that out of yourRead More
What are the risks in Property Management that a business or individual needs coverage for?
Typical claims issues that we see with property management are: Complaints of substantial property damage which involve diminished value of the residence. Failure to inspect property conditions and comply with safety regulations. Complaints of discrimination against potential tenants for not getting placed in a particular residence. Even if someone brings a frivolous lawsuit against you,Read More
What are the risks in Mortgage Brokering that a business or individual needs coverage for?
Any financial duty placed on an insured, specifically Mortgage Brokers, can lead to a few specific types of claims. Most typical for mortgage brokers involve: Failure to properly qualify applicant who subsequently was delinquent Failure to properly advise client of risks Failure to properly review loan documents Even if you’ve done everything right, you canRead More
What are the risks in performing Appraisals that a business or individual needs coverage for?
Appraisers run the risk of incorrectly appraising the value of certain properties. Typical appraising claims filed in court seek damages in connection with an alleged error in an appraisal. Even if you’re named in a frivolous lawsuit, you can still incur significant legal fees that would be covered by Appraiser E&O.
What are the risks in transacting Real Estate sales that a business or individual needs coverage for?
Lawsuits are filed every day in every part of the country. With the complexities involved in real estate transactions, there are no guarantees that you will never receive a demand letter or be named in a lawsuit concerning your professional services as a real estate agent or broker. The ten most common claims made forRead More