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Real Estate Errors & Omissions (E&O)


For 30 years, Pearl Insurance has been dedicated to providing the high-quality, comprehensive Real Estate Errors & Omissions (E&O) coverage you need. In fact, we were among the first to offer a truly successful professional liability program customized for real estate professionals. You can trust the Pearl team to be there when you need us.

  • Nationwide
    Features
  • Additional
    Features
  • Pearl's program is underwritten by the XL Insurance companies (Greenwich Insurance Company and Indian Harbor Insurance Company)—rated "A" (excellent) by A.M. Best
  • Choice of per claim coverage and aggregate limits range from $250K/$250K to $5M/$5M
  • Choice of per claim deductibles range from $1,000 to $25,000 (higher deductibles available)
  • Covered Professionals include Real Estate Agent, Broker, Leasing Agent, Property Manager, Auctioneer, Appraiser, Consultants, Short-Term Escrow Agent, Referral Agent, and Notary Public
  • Environmental Failure to Advise up to full policy limits (includes pollutants, asbestos, lead, and radon)
  • Consent to Settle
  • Attorney Selection by the Insurance Company or by the Insured with written consent
  • Defense Outside Limits
  • Innocent Partner Protection included for fraud and late reporting
  • Personal Injury
  • Coverage for the Sale of Agent-Owned Residential Properties held for over 180 days
  • Short-Term Escrow
  • Vicarious Liability for Franchise Corporation
  • Risk Management Services
Except California, Hawaii, and New York
  • Worldwide coverage expanded to now cover an act or omission taking place anywhere in the world (removes previous physical limitations)
  • All-new Public Relations Advisory Services providing up to $15,000 in coverage per qualifying event (limit $50,000 per policy period)
  • Spousal coverage extension amends definition of insured to also include the lawful spouse or qualifying domestic partner of any present or former partner, member, officer, director, employee, or independent contractor
  • Valuable new Liberalization Clause provides current insureds with automatic coverage for mid-term enhancements to the XL Insurance policy (if no premium is charged for the increased coverage)
  • Reimbursement of Expenses increased to $500 per day (up to $15,000 per policy period)
  • Lockbox coverage to full policy limits (all types of lockboxes are covered; no deductible applies to this benefit)
  • Open House Property Damage coverage ($50,000 sub-limit)
  • 50% deductible reduction for claims resolved within one year (limit $5,000 per policy period; applies to damages only)
  • Automatic Fair Housing Discrimination sub-limit of $250,000 that provides defense and damages (up to $1,000,000 available)
  • $2,500 included for Regulatory Complaints with a $10,000 aggregate per policy period
  • Coverage for services via the insured’s internet, email, telecommunications, and other similar systems
California and Hawaii
  • $250,000 Lockbox sub-limit (all types of lockboxes are covered; no deductible applies to this benefit)
  • $250 per day for Reimbursement of Expenses (up to $10,000 per policy period)
New York
  • $50,000 Lockbox sub-limit (all types of lockboxes are covered)
  • Deductible Reduction that applies to claims expenses up to 50% (applies to all claims per policy period)
  • $250 per day for Reimbursement of Expenses (up to $10,000 per policy period)
  • Vicarious Liability Discrimination coverage for discriminatory acts of others
Features last updated on 11/19/2009

Errors & Omissions coverage is underwritten by the XL Insurance companies (through Greenwich Insurance Company and Indian Harbor Insurance Company). This flyer is not a contract. Please consult the insurance policy for actual description of term coverages, amounts, conditions, limitations, and exclusions. Coverages may differ or may not be available in all states. Please contact Pearl Insurance for details.






Pearl Insurance | 1200 East Glen Avenue | Peoria Heights, IL 61616
Ph. 800.447.4982 Fx. 309.688.5444 | © Copyright 2010