RISC Rice Insurance Services Company, LLC
Specializing in Mandated Real Estate Errors & Omissions Insurance
We put the Experience and Options in E&O programs


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Sample Policy '16

Optional Coverages '16

Policy Features '16

Sample Policy '15

Optional Coverages '15

Policy Features '15


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RISC Rice Insurance Services Company, LLC
· We put the Experience and Options in E&O programs ·

Idaho Real Estate Commission’s Group Policy

Real Estate E&O Insurance
Designed for Idaho Licensees


Please Support Your State Program

Over $6 Million in defense costs and damages have been incurred by Continental Casualty Company (a CNA insurance company) on behalf of Idaho licensees as of June 1, 2016 since 2004. RISC and CNA share a commitment to their insureds to provide valuable coverage to Idaho licensees. When shopping for insurance, it’s important to ask about a company’s experience and paid claims in Idaho. If a company is charging a very low amount, you may find the carrier doesn’t provide much coverage or pay many claims.

The state group program offers affordable E&O insurance to each and every licensee by spreading the risk over a large number of insureds. Without the group program’s low premium, other carriers have no incentive to offer real estate E&O policies at affordable prices. In states without a group program, real estate E&O premiums may cost thousands of dollars and some licensees report being unable to obtain insurance at any price.

Rely on the Most Experienced Provider in the Business

The Rice family and their colleagues have specialized in mandated real estate E&O programs since 1989. CNA has more than 50 years experience in E&O programs, including over 20 years in real estate E&O. CNA is the top provider of real estate liability insurance, with more than 100 years in the insurance business, industry knowledge, and financial strength to manage even the most complex risks. You can be confident we will be here for you even after you purchase coverage.

When a Claim is Made, Our Claims Adjusters Focus on You

Some people assume insurance companies look for reasons to deny coverage. Our duty to find coverage where the policy supports it is our utmost concern. Most insurance providers use one entity to sell the policy and another to handle claims. Because we do both, the information we provide about the policy reflects how it will actually apply when a claim is made. Providers who don’t administer claims may not know how the carrier actually applies the policy when a claim is made.

We Stand by You Even if there is a Claim

You may be involved in a claim even if you did everything by the book. Some providers won’t write your coverage if you have had a claim. Or if you have a claim, they may not renew your policy! There is no reason to fear reporting a claim under our program. We understand that having a claim does not mean that you did anything wrong. Anyone can be involved in a transaction that goes sour. Never think that it can’t happen to you. And we are here for you if it does.

Have Questions?  

Call us at 1-800-637-7319.  We look forward to hearing from you.

Enrollment for October 1, 2016 -
October 1, 2017 Policy Period

Active status Idaho real estate licensees who fail to renew E&O insurance by September 30, 2016 at 11:59:59 p.m. MT will be in violation of the license law and will incur civil penalties and fines.

Click the "Enroll or Renew" Button on the left for more information.

Not All E&O Policies are the Same . . .
Neither are All E&O Providers

Always Review the Actual Policy Provisions! The most accurate representation of what a policy covers is the policy itself. We recommend you review any policy you are considering and ask these questions:

Does the policy provide first dollar defense? Yes. There is no deductible for defense costs, so there is no cost to the insured unless there is a damage award or settlement. Other policies may have stringent requirements that must be followed to qualify for first dollar defense.

Does the policy offer unlimited defense costs? Yes. There is no limit on the amount of defense costs available to pay covered claims. (Except defense costs incurred under the earnest money, environmental, fair housing, and regulatory complaints endorsements, which were not traditionally covered at all under many E&O policies.)

Does the policy insure transactions you do for relatives? Yes. The policy applies to claims involving services performed for your parents; grandparents; siblings; aunts; uncles; cousins; children; domestic partner; or spouse’s parents, grandparents, siblings, or children. This is important, since buyers and sellers often turn to a trusted relative who is a real estate licensee to represent them in a transaction.

Does the policy apply to claims relating to all types of real property? Yes. The policy applies to any claim relating to professional services, regardless of the type of property involved. Other policies may limit coverage to a specific type of property, such as residential, or require additional premium for coverage for other kinds of property. Even if you currently handle only residential transactions, consider whether you are willing to forgo an opportunity to work with commercial property or farm land or to risk not having coverage for a claim resulting from the transaction.

Are insureds satisfied with the provider? Yes. Below are excerpts from actual emails we’ve received:

Thank you, thank you, thank you. Your swift response only reinforces my faith in your coverage and service. R.F. (Idaho insured)

I want to express my thanks to you. When you are in this “situation” there are a number of emotions that seem overwhelming . . . . While I know we didn’t do anything wrong, I cannot tell you how appreciative I am of the service that you and RISC offer. Not only have you saved us but you have been so kind in your communications. . . . Also, I feel your insurance company provided us with a more professional and knowledgeable attorney that we could have had access to on our own. S.A. (Idaho insured)

I just wanted to . . . let you know what a wonderful job [defense counsel retained by RISC] did in representing me. He was always prompt, professional and helpful. I hope to obviously never have a claim again, but I wanted to let you know how awesome of a job I feel he did for me and [my firm]. S.W. (Iowa insured)

The program referenced herein is underwritten by Continental Casualty Company, a CNA insurance company. This information is for illustrative purposes only and is not a contract. It is intended to provide a general overview of the products and services offered. Only the applicable policy can provide the actual terms, coverages, amounts, conditions, and exclusions, which may be subject to change without notice. In the event of a claim, the nature and extent of coverage is determined based upon the claim’s facts, circumstances, and allegations and application of the relevant policy’s terms, conditions, and exclusions. The E&O program described herein is only available in Idaho. CNA is a registered trademark of CNA Financial Corporation. Copyright © 2016 CNA. All rights reserved.

RISC  Rice Insurance Services Company, LLC
· We put the Experience and Options in E&O programs ·
4211 Norbourne Blvd., Louisville, KY 40207
Phone:  502-897-1876
· Toll-Free:  800-637-7319 · Fax:  502-897-7174 · Website:  www.risceo.com