Idaho
Overview
Under Agreement
with the
Idaho Real Estate Commission
Idaho real estate salespersons, brokers
and firms are
required to carry errors and omissions (E&O) insurance as a condition of
licensure. The Idaho Real Estate Commission selected Rice Insurance
Services Company, LLC (RISC) as the program administrator for the group
E&O insurance program for Idaho licensees. Continental Casualty
Company, one of the CNA insurance companies is the insurance carrier for the E&O program.
CNA is rated "A (Excellent)" by A.M. Best.
RISC provides all servicing of the Idaho account
including claims handling, policy issuance, marketing mailings, etc. The
management team of RISC specializes in handling group programs for
states with mandatory real estate E&O insurance requirements. RISC is
located at 4211 Norbourne Boulevard, Louisville, Kentucky 40207-4048.
The group program is designed to protect the real
estate professional from the financial consequences of consumer claims.
Even the most careful professional cannot always prevent the filing of a
frivolous lawsuit nor can they preclude making an honest mistake. Under
this program, the insurance provider has the responsibility of defending
all covered claims, as well as paying a settlement or judgment up to the
limits of liability, subject to the deductible.
You must be licensed in Idaho to purchase coverage
under the group program. If you are licensed, but not domiciled in
Idaho, your coverage will only apply to professional services performed
in Idaho unless you meet the exception under, Insuring Agreement,
Section V. Territory. If you are licensed in more than one state, or do
not live in Idaho, please
contact RISC
for additional information. |