Real Estate Professionals E&O Insurance Coverage Highlights

Bodily Injury and Property Damage
No sub-limits or exclusions for bodily injury or property damage claims arising out of real estate agent or broker services.

Pollution, Fungi, Bacteria
No sub-limits or exclusions for failure to advise of pollution, fungi, bacteria.

Pre-Claim Assistance
Covers expenses associated with the evaluation and mitigation of a potential claim. The limit of liability or the deductible do not apply to pre-claim expenses.

Network and Information Security Offense Coverage
Covers claims for the transmission of a computer virus; claims for the failure to control access to the insured’s computer or network; and the failure to prevent unauthorized access to,or use of, data containing confidential information of others.

Crisis Event Expense Reimbursement
Reimburses costs of consulting services of a public relations firm incurred in response to a crisis event that has had a material adverse impact on the named insured’s reputation. A crisis event includes the death or departure of principal, potential dissolution of the named insured, workplace violence, or other event that has a material adverse effect on the named insured’s reputation. Limits are $10,000/$30,000. All payments are outside of the limit and no deductible applies.

Disciplinary and Regulatory Proceeding Expense Reimbursement
Reimburses insured for expenses incurred that result from a disciplinary or regulatory proceeding. Limits are $25,000/$50,000. All payments are outside of the limit and no deductible applies.

Punitive or Exemplary Damages
Where allowed by law, punitive or exemplary damages are covered by the policy.

Automatic Acquisitions Coverage
Coverage is automatically provided for an entity acquired or formed during the policy period for 90 days or until the expiration date, whichever is earlier, for wrongful acts committed on or after the acquisition or formation date.

Franchisors Coverage
The definition of insured includes franchisors of the insured.

Independent Contractors Coverage
Coverage is afforded to independent contactors and their employees for their professional services under contract with and at the direction and control of the insured.

Loss of Earning Reimbursement
Reimburses insureds loss of earnings up to $500 per insured person per day or $15,000 per policy year for all insured persons while resolving a claim. All payments are outside of the limit and no deductible applies.

Owned Property Coverage
Coverage extends to the sale or purchase or attempted sale or purchase of residential property, provided that the insured did not construct or develop the property. Ownership interest must be less than 10 percent. Additional rules apply if interest is more than 10 percent.

Pure Claims-Made Policy
Coverage is on a pure claims-made basis versus the traditional claims-made and reported approach.

Worldwide Coverage
Applies to wrongful acts committed, and claims made, anywhere in the world. However, No coverage is provided for any loss or exposure located in a country or territory which, now or in the future, is subject to United States trade or economic sanctions or embargo, or for which coverage is prohibited under other laws of the United States.

Automatic ERP
If coverage is terminated and not replaced, an automatic extension of coverage will apply for claims made during the 60 day period after termination if the claim arises from a wrongful act committed prior to the termination date. Claim must be reported during the 60 day period.

Discrimination Coverage
No sub-limits or exclusions for discrimination.

Failure to Maintain Insurance
No exclusion for the insured’s failure to maintain insurance.

Limited Claims Knowledge
Knowledge of claim or circumstance limitation only applies if a “principal insured” had knowledge on initial knowledge date specified on Declarations.

Innocent Insured Provision
The Criminal, Dishonest, Fraudulent or Malicious Conduct exclusion does not apply to any insured person who did not participate in or have knowledge of such conduct or violation.

Spousal and Domestic Partner Coverage
Coverage is extended to spouses or domestic partners of insureds for claims arising from a wrongful act committed by an insured.