Available through Big “I" Markets, Travelers 1st Choice+® is specifically designed to protect real estate professionals from the array of emerging exposures they face. This customizable errors & omissions policy can help protect them against losses resulting from negligence, errors and omissions in the performance of professional services.
Key policy benefits include:
- Network and information security offense coverage.
- Bodily injury and property damage coverage.
- Crisis event expense coverage.
- Claim services and pre-claim assistance.
As part of its coverage, Travelers also provides risk management services to assist in proactively mitigating legal liability exposures, including a helpline which provides up to a one-hour consultation with Litchfield Cavo, a premier professional liability defense firm. This helpline provides confidential, knowledgeable, expert resources on a wide range of risk management topics, but is not intended to replace the need to hire counsel to assist in making risk management decisions.
Other policy features include:
- Bodily injury and property damage resulting from a covered professional service(s).
- Disciplinary proceeding defense expenses reimbursement up to $25,000.
- Increased liability limits, available for those who qualify.
- Defense expenses related to covered claims in addition to the limits of coverage.
- Deductible which applies to defense expenses, unless endorsed or not allowed by state.
- Option to provide prior acts coverage without a retroactive date limitation, for those who qualify.
- Many extended reporting period options, including an unlimited time period endorsement option.
- No exclusion for fair housing discrimination committed in real estate professional services as a real estate agent or broker.
- No exclusion for losses resulting from a real estate agent or broker failing to advise a buyer or seller that pollution, fungi and bacteria exists on a property.
- No sublimits for certain types of claims.
- Automatic coverage for employees and independent contractors of the insured as protected persons for claims resulting from professional services they perform for the named insured.
Written on admitted paper, coverage is available in all states except California, Hawaii and Louisiana. Log in to Big "I" Markets and select Real Estate Agents and Property Manager E&O to learn more or to request a quote.