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Mississippi real estate brokers and salespersons are required to carry
errors and omissions insurance as a condition of licensure. The
Mississippi Real Estate Commission has contracted with Rice Insurance
Services Company, LLC (RISC) to administer the group Errors & Omissions
(E&O) insurance program for Mississippi licensees. Continental Casualty
Company, one of the CNA insurance companies, is the insurance carrier
for the E&O PROGRAM. The CNA insurance group is one of the largest
writers of commercial property casualty insurance in the United States
and is rated "A (Excellent)" by A.M. Best.
RISC provides all servicing (claims
handling, policy issuance, marketing mailings, customer service, etc) of
the Mississippi account. The management team of RISC specializes in
handling group programs for states with mandatory real estate E&O
insurance requirements and has been servicing the Mississippi group
program since 1994. RISC is located at 4211 Norbourne Boulevard,
Louisville, Kentucky 40207-4048.
This program is designed
exclusively to provide professional liability insurance for Mississippi
Real Estate Licensees. Even the most careful professional cannot always
prevent the filing of a frivolous lawsuit nor can he/she preclude making
an honest mistake. Under this program, the insurance carrier has the
responsibility of defending, as well as paying a settlement or judgment
on covered claims, up to the limits of liability. |
