Brokers

Coverage Summary Real Estate Agents and Brokers Professional Liability Insurance (RPL) provides indemnification and legal expense coverage for claims made by third parties who allege wrongdoing in the performance of professional services. Be warned: You can not be careful enough. No matter how groundless or false a suit may be, you are at risk for your legal expenses. Legal representation is costly. Regardless of who wins in court, you will have to pay your legal costs. In addition to legal expenses, if you must indemnify the claimant for his or her financial loss the total cost of a claim could be financially devastating. Common theories of real estate claims include; misrepresentation, negligence, fraud/ intentional acts, breach of contract, breach of fiduciary duty, concealment, breach of good faith, and others. Common alleged problems include; specific performance, sewer / well, structure, roof, boundary, drainage, code violations, financing, valuation, stability of buyer, tax, zoning, plumbing, discrimination, environmental, and others. General Policy Highlights • Free Legal Hotline & Expert Claims Handling. • Comprehensive Definition of Professional Real Estate Services • Broad Definition of Insured. • Blanket coverage for all employees and independent contractors • Duty to Defend • Legal Fees & Defense Costs are in addition to the policy's limit of liability • First Dollar Defense Coverage . The deductible applies to damages only. • Prior Acts Coverage • Fair Housing / Vicarious Liability and Disparate Impact Discrimination Coverage • Lockbox or Keyless Entry • Optional Environmental Coverage. • Optional Residential Ownership Coverage. • Extended reporting period (ERP) option up to three years. Please note: The actual policy, if one is issued, will dictate actual coverage terms, conditions and other benefits. The determination of the obligation to defend by the insurance company turns on both the language of the insurance policy and the pleadings.

REAL ESTATE AGENTS & BROKERS