6 things to look for in an E&O policy
10/07/2014 | Author: Editorial Staff
Searching for the right errors and omission (E&O) insurance policy can be daunting. Barney Schwartz, CEO of Preferred Guardian Group, a TAR risk-management partner, suggests looking for a company that specializes in insuring real estate practitioners and finding an E&O insurance provider that also offers other insurance options. This can make it easier for you, since you’ll only have to contact one place for all your questions and issues.
The E&O expertise is important, though, so you can get the help you need examining the available options. “When looking for an E&O provider, policies vary significantly,” Schwartz says, so look for coverage for at least the following:
- Property management
- Agent-owned properties
- Business brokerage (selling a business)
- Discrimination (fair housing)
- Disciplinary proceedings (TREC complaints)
The Texas Association of REALTORS® has a new resource that helps you reduce your risk. Learn about our risk-management partner program in the Sept./Oct. issue of Texas REALTOR® magazine.
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