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

 

Real Estate E&O Insurance
for
Mississippi Licensees
 

 

Not All E&O Policies are the Same

Neither are All E&O Providers

 

You can be confident we will be here for you even after you purchase coverage.  RISC and Continental Casualty Company (a CNA insurance company) have worked together to provide group E&O programs for more than 12 years.  We administer all aspects of the program, so you will work with one entity throughout the entire process, from obtaining coverage to claims resolution.    

 

 

E&O Coverage is About More than Paying a Premium…
It’s Also About

  • Access to seasoned, caring professionals to answer your questions or concerns;

  • Access to experienced local attorneys to defend you against covered claims; and

  • The comfort of knowing your policy won’t be cancelled simply because you have a claim and your provider will be around when you need it most.
     

Have Questions?  

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

CNA is a service mark and trade name registered with the US Patent and Trademark Office.  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 policy can provide the actual terms, coverages, amounts, conditions, and exclusions. This program is only available in Mississippi. ©2014

 

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

What’s the premium for excellent customer service and individual attention when you need it?

Surprisingly low!

Considering Other Providers?
Review the Actual Policy Provisions!

Does the policy provide first dollar defense?  Under the RISC policy, 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.

Is there a limit on defense costs?  Under the RISC policy, there is no limit on the amount of defense costs available to pay covered claims.**

How much has the carrier paid on behalf of Mississippi real estate licensees?  The amount paid to defend and indemnify Mississippi licensees represents the carrier’s commitment to its insureds and the value of the coverage provided under the policy.  As of May 1, 2014, Continental Casualty Company has incurred more than $6.36 Million for claims on behalf of Mississippi licensees.   

Does the policy exclude coverage for transactions you do for relatives?  The RISC policy does not exclude coverage for claims involving services performed for an insured’s parents; grandparents; siblings; aunts; uncles; cousins; children;  domestic partner; or spouse’s parents, grandparents, siblings, or children.  This is important, since often, buyers and sellers 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?  The RISC 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.  

*Except for lock box claims, which have a reduced $250 deductible that applies to damages and defense costs, combined.

**Except for claim expenses incurred to handle discrimination and escrow claims, which were not traditionally covered at all under many E&O policies.  The discrimination and escrow claim sublimits of liability apply to damages and claim expenses, combined.

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 Mississippi. CNA is a registered trademark of CNA Financial Corporation. Copyright © 2014 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