Real Estate E&O

Nuts & Bolts: CNA/Schinnerer introduced three major enhancements to its Industry Services policy as part of its Realty Choice™ for real estate professionals. Industry Services, a claims-made professional liability policy offers customizable coverage for large commercial and residential firms and now includes coverages for licensing proceedings, subpoena assistance and owned property. If an agent is subpoenaed on matters relating to professional services, an attorney will be provided to prepare the agent for deposition at no extra cost. As long as an agent has owned a property for more than 180 days, the sale of the property is no longer excluded from coverage. Some conditions, such as the issuance of a disclosure statement, do apply. The Industry Services policy will continue to offer coverage for innocent insureds, independent contractors, property management of owned properties and personal injury. Coverage for environmental hazards, discrimination, lockbox and renovation services is also available.

Dollars: CNA/Schinnerer will reimburse costs up to $5,000 assoicated with appearing in front of a licensing board. Attorneys fees and investigative costs are included up to a policy limit of $10,000.

Carrier: CNA

States Available: Texas, Oklahoma, Arkansas and Louisiana. Some conditions may apply in Lousiana.

Contact: Linda Realo, Linda.C.Realo@ schinnerer.com