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Errors and Omissions Insurance for Mortgage Bankers and Brokers

Axis Insurance provides customized, comprehensive Errors & Omissions (E&O) insurance programs for both mortgage bankers and brokers. Mortgage bankers represent a bank or financial institution that provides individuals with the funds for the loans. Mortgage brokers do not use their own funds and serve as intermediaries between the lender and borrower. According to Homesite Mortgage, brokers have access to multiple mortgage companies and more access to different types of loans. They also can accept a loan application and quote rates and fees to the applicant.

Mortgage Bankers E&O Insurance

There is a great deal involved in processing a loan with the potential for a claim or litigation if a customer emerges dissatisfied. Axis offers Mortgage Bankers E&O insurance, also known as Professional Liability insurance, that is tailored to individual risks – whether you offer multiple professional services or focus on one area. E&O coverage is designed to protect you from mistakes that can occur during the entire loan process – from the origination through the closing of a loan. With an E&O policy, you receive defense and indemnity coverage, saving you the cost of defending and settling allegations of negligence, even if the allegations are meritless.

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Product Overview

  • Title Agents
  • Processors and Abstractors
  • Escrow Agents
  • Independent Contractors
  • Innocent insured coverage for dishonest acts
  • Coverage for independent contractors
  • Claims relating to discrimination
  • Claims relating to yield spread
  • Claims relating to subprime loans
  • Claims relating to fraud in the submission of an application

National

Axis has built an impeccable reputation in offering Professional and Management Liability insurance solutions for all types of professional service companies and their employees. We have established strong relationships in the insurance market enabling us to build custom coverage solutions that fit the risk profile of each of our clients.

Mortgage Brokers E&O Insurance

Mortgage brokers throughout the entire loan process must complete multiple steps. Any error or omission (whether real or perceived) made by a mortgage broker during that process could give rise to an E&O claim. Our Mortgage Brokers E&O insurance solution offers customized coverage to protect you in the event of a lawsuit alleging negligence in providing or failing to provide your professional services. These types of lawsuits could result in costly litigation and the possibility of having to pay significant damages. It’s important to note that E&O coverage is often confused with General Liability insurance. However, General Liability policies do not typically cover the professional services your firm provides.

Product Overview

  • Options for separate limits for defense and indemnity
  • Coverage for innocent insureds
  • Coverage for independent contractors
  • Coverage for pollution-related claims
  • Coverage for claims relating to discrimination
  • Ability to purchase an extended reporting endorsement
  • Programs for commercial lenders and distressed risks available

National

The Axis professionals specialize in providing Mortgage Brokers E&O insurance, offering you options to help make an informed decision on a policy that will protect you against the specific exposures you face. We work with leading insurance carriers in the E&O market that provide competitive rates and enable us to customize a policy that addresses your risk profile.

Why You Need Cyber Insurance

Large or small, breaches can lead to expenses such as having to contract with breach response teams and breach coaches and pay for notification and litigation costs. Now, more than ever, cyber breaches are a common occurrence across all industries, including the mortgage industry. Companies of all types and sizes are targets of cyber attacks, not just big-name, high-profile firms. Without the proper coverage, these expenses could be detrimental to pay out of pocket.

Mortgage Bankers and Mortgage Brokers need to have Cyber insurance because:

  • You collect personal data from customers
  • You work with banking statements
  • You need to make sure they secure their digital assets

Protecting you from professional liability is our focus

Let us design a proper Mortgage Banker or Mortgage Brokers Errors and Omissions insurance
policy for you today. Please feel free to call to discuss your company’s needs with one of our licensed professionals.

Learn about our product

PRODUCTS

Tail Coverage Insurance

For nearly two decades, the insurance professionals at Axis Insurance Services, LLC

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Professional Liability Insurance (E&O)

Professions

As specialists in Professional Liability insurance, Axis Insurance Services, LLC offers Errors & Omissions Liability insurance products to almost any industry

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Professional Liability Insurance (E&O)

Insurance

Just as managing a client’s professional liability exposure properly is critical, insurance agencies must also ensure that their own Errors & Omissions (E&O)

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Professional Liability Insurance (E&O)

Legal

As an attorney or law firm, you’ve been on both sides of the table: defending professionals and their work in disputes

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Professional Liability Insurance (E&O)

Real Estate

As one of the nation’s largest independent firms writing Commercial Real Estate E&O insurance, we provide a unique perspective in this risk.

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Professional Liability Insurance (E&O)

Technology

Errors & Omissions (E&O) insurance for the technology industry is designed to cover the financial loss to a company’s customer as a result of an error or omission

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Professional Liability Insurance (E&O)

Healthcare/Medical

The healthcare and medical sectors have undergone major changes in the last decade due to increased regulation and oversight

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Professional Liability Insurance (E&O)

Architects & Engineers

Architects and engineers are increasingly seeing more professional liability lawsuits today with allegations that an error or omission in the work

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Professional Liability Insurance (E&O)

Financial Institutions

As a leading provider of Professional Liability insurance products, Axis Insurance Services, LLC provides financial institutions

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Professional Liability Insurance (E&O)

Consulting

As a consultant, your clients look to you to provide advice and recommendations based on your expertise and years of experience.

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Professional Liability Insurance (E&O)

Media

Creators of media content produce and market everything from ads, scripted and reality television programs, films and newspapers to Internet articles and blogs.

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Professional Liability Insurance (E&O)

Mortgage Bankers & Brokers

Our Mortgage Bankers errors and omissions insurance (E&O) programs are specifically tailored to each mortgage banker or broker.

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Professional Liability Insurance (E&O)

Miscellaneous Services

It’s inevitable that at some point in a company’s lifespan an error will occur that will cause financial damage or loss to a client.

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Professional Liability Insurance (E&O)

Resources

Following is information for greater insight into the need for Professional Liability insurance and risk management:

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Professional Liability Insurance (E&O)

Claims Scenarios

Following are several Professional Liability/E&O claims representing different professions.

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Professional Liability Insurance (E&O)

Construction

Construction Professional Liability Insurance can provide coverage for firm in the event of a lawsuit brought against it for claiming negligence in providing

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Contact us about our tailored cyber liability
and privacy & network security solutions.

How can we help you?

Protecting you from professional liability is our focus

Our errors and omissions insurance policies do not penalize mortgage bankers that only focus in one area by charging them for the risk of multiple lines of business. On the other hand our mortgage bankers errors and omissions insurance policies can cover those mortgage bankers insurance agents that provide multiple professional services.

Let us design a proper mortgage banker errors and omissions insurance policy for you today. Please feel free to call to discuss your Company’s needs with one of our licensed professionals.

Protecting you from professional liability is our focus
Agents & Brokers
Agents & Brokers

Please visit our wholesale website for PLRisk for applications for Professional & Management
Liability products for your clients.

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Connect to Our Cyber Hotline
& Resources
Connect to Our Cyber Hotline
& Resources

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