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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
Your State Program
$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 May
1, 2015 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
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.
Call us at
We look forward to hearing from you.
Enrollment for October 1, 2015 -
October 1, 2016
Active status Idaho real estate licensees who fail to renew E&O
insurance by September 30, 2015 at 11:59:59 p.m. MT will be in
violation of the license law and will incur civil penalties and
Click the "Enroll or Renew" Button on the left for more
Not All E&O
Policies are the Same . . .
Neither are All E&O Providers
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:
policy provide first dollar defense?
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?
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.
policy apply to claims relating to all types of real property?
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
satisfied with the provider?
Yes. Below are excerpts from
actual emails we’ve received:
[Your employee’s] hard work and
long hours were particularly appreciated as evidence of my E&O
coverage afforded me the opportunity to garner a new client this
morning. . . . But for [her] dedication, I would not have been
able to close the deal. I sincerely believe that employees are
an extension of any business’ management team.
D.B., RISC insured since 2006.
When I first started in the business . . . I honestly thought
E&O was an expense I couldn’t afford…thankfully it was required.
I just didn’t realize, especially these days, how many [people]
who can and will bring suit against us even when we have done
everything right, legal and proper. It is frightening so I thank
God for E&O insurance, for Risceo, and [for the legal counsel
retained on my behalf].
N.G., RISC insured since 2004.
It has been a pleasure to work with a company who returns phone
calls and gets your questions answered and information to you in
a timely manner. Everyone at the company is always courteous and
helpful. L.C., RISC insured since 2004.
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 © 2015 CNA.
All rights reserved.
Insurance Services Company, LLC
put the Experience and Options in E&O programs
Norbourne Blvd., Louisville, KY 40207