League Invest Blog

Errors and omissions insurance are designed to protect real estate agents from financial loss due to lawsuits filed by unhappy clients. Termed E&O for short, the typical scene with this is that the insurance company defends the claim and pays any settlement or judgment against the insured party.Availing of errors and omissions insurance can give you a coverage that typically includes payment for claims that come about due to error, omission, or negligence in regard to your duties as a real estate agent; and claims made during the policy period.Common E&O exclusions are accountability for claims that result from dishonest or criminal acts done by the insured party; claims associated with polluted property; claims against the insured if he/she has caused harm to another person; and claims arising from damage caused to someone’s property.

This entry was posted on Wednesday, September 23rd, 2009 at 1:30 pm and is filed under Business.