If you're structuring your Error and Omissions insurance package, you can contact Axis Insurance Services for comprehensive help. We have a tremendous amount of experience helping real estate industry professionals and others develop comprehensive and cost-effective Error and Omissions insurance coverage. We can work with all manner of real estate professionals, including property managers, appraisers, and commercial and residential agents, as well as financiers and consultants, such as mortgage bankers and brokers, accountants, and title/escrow agents.
The key to developing the proper E and O insurance coverage for your business is to review coverage options carefully. The Miscellaneous Professional Liability insurance form--the MPL--which carriers often issue generically may not be adequate to mitigate the risks associated with your business. For instance, most MPL policies exclude coverage for independent contractors. If you're running a commercial real estate operation, this is simply unacceptable. Standard forms also do not include coverage for claims relating to discrimination, pollution or owned property.
That said, it's always surprising how many seemingly astute and careful real estate professionals wind up with inadequate Errors and Omissions policies. Whether you're looking for your first E and O policy or trying to revise existing coverage, our staff of experts can assist you. We will make recommendations based on a thorough policy analysis in order to find a solution that will truly work for you.
Especially if your business is growing or expanding into new markets, it's critical to review your Error and Omissions coverage. After all, if the structure of your company changes, or if you expand beyond a certain size, certain restrictions and exclusions may begin to apply. We encourage you to contact one of the licensed representatives at Axis Insurance Services ASAP for a comprehensive evaluation.
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