Errors & Ommissions
Pearl Insurance
Pearl Insurance has been serving the real estate community since 1950 and is one of the nation’s leading providers of E&O insurance. Association members can enjoy an A+ A.M. Best-rated E&O program, easy access to AHS Home Warranty Services, and a variety of life and health products that include major medical, dental, term life, level term life, AD&D, and short-term medical.
(Call 1- 800-289-8170)
REO Advisors
REO Advisors represents several major errors and omissions providers for the real estate marketplace, and its three Texas-based agents have decades of experience helping Texas REALTORS® with their E&O coverage needs. For more information visit their website at www.reoadvisors.com or call (1-800-753-3557).
Victor O. Schinnerer & Company, Inc. E&O Insurance
Program coverage supports a broad range of real estate specialties, such as residential agents, commercial/industrial agents, farm and land agents, property management, sales and management of owned property, appraisals, sale of property constructed or developed by a related entity, auctioneers, and escrow and closing agents.
The program offers coverage for firms and individual agents, as described below.
• The broker/firm policy covers the broker-owner, other brokers on staff, agents on staff, personal assistants, and employees and independent contractors who perform real estate services on behalf of the firm.
• The individual agent policy is transferable, allowing an agent to maintain coverage when moving from firm to firm.
Coverage is available in all 50 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands.
Premium rates are filed with the department of insurance in each state and are competitive in the marketplace. Rates vary, based on the type of coverage needed. The program offers a wide range of deductibles and claim limits.
Claims are handled by dedicated real estate claims specialists and attorneys across the country who specialize in real estate claims litigation.
Several premium credits are available, as allowed by state law, including a credit for being an NAR member, holding select NAR designations, continuing education, use of standard contracts, use of home warranties, risk management programs, etc. Details are available from Schinnerer. Additionally, a longevity credit is available for firms that have been insured with Schinnerer for three years. An additional longevity credit is available after reaching the five-year mark.
Schinnerer is committed to risk management initiatives and has developed a “toolbox”, which includes a semi-annual risk management newsletter, Risk Management Reporter; monthly “war stories,” which are sample claims scenarios; bi-monthly posts to its “Real Estate Round Up” real estate blog; semi-annual webinars on various risk management topics; on-line access to a library of risk management publications; and a toll-free hotline for an insured to speak with a real estate claims specialist or an attorney to discuss a potential claim and seek assistance.
To learn more about Victor O. Schinnerer's Real Estate Errors & Omissions Insurance Program, visit www.Schinnerer.com/NAR or call 301-961-9800. Be sure to mention that you are a member of the NATIONAL ASSOCIATION OF REALTORS®.
To obtain a quote from Schinnerer, you will need to submit your completed application through a licensed property and casualty insurance agent or broker. If you do not have an insurance broker, please visit www.Schinnerer.com/NAR for a list of real estate E&O insurance brokers from which to choose.