Real Estate Licensee E&O Insurance

We provide real estate E&O insurance in Alaska, Colorado, Iowa, Idaho, Kentucky, Louisiana, Mississippi, Montana, Nebraska, New Mexico, North Dakota, Rhode Island, South Dakota, Tennessee, and Wyoming.  These states require real estate licensees to maintain E&O coverage that meets certain requirements.  We offer coverage that exceeds the minimum requirements.  The insurance carrier for our programs is Continental Casualty Company, a CNA insurance company, rated A (Excellent) by A.M. Best.  All of our basic policies are guaranteed-issue if you have an active real estate license, so you don’t have to worry about qualifying for enrollment if you have had a claim.

In addition to being required by law in some states, there are other reasons to purchase E&O insurance.  Licensees often think a claim will never be made against them.  Unfortunately, anyone may be the victim of a frivolous lawsuit or make an honest mistake without regard to knowledge and years of experience, doing everything by the book, or going the extra mile for their clients.  Even if a lawsuit is eventually dismissed, legal expenses to defend the claim often reach tens of thousands of dollars and sometimes more.  Defense cost coverage is one of the biggest benefits of our policies.  Under the basic policy limits, there is no cap on the amount of defense costs the insurance carrier will pay for insured claims.  For example, if it costs $150,000 in legal fees to defend a covered lawsuit, these fees would be paid by the insurance carrier and would not reduce the amount of funds available to pay covered damages.  Note in some states there may be sublimits (for claims not traditionally covered by E&O policies) that limit defense costs.  In addition to defense costs, the insurance carrier will pay covered damages when an honest mistake in your real estate services results in a covered claim.

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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 certain states. CNA is a registered trademark of CNA Financial Corporation. Copyright © 2024 CNA. All rights reserved.