Ground-Breaking Insurance Marketer Simplifies E&O Buying for Real Estate Brokers and Broker-Owners

Share Article makes E&O insurance buying easier and faster; rewards low-risk buyers with affordable rates.

By screening out high-risk individuals, the insurer can keep premiums affordable for all.

Real estate professionals who have battled the high cost and complexity of purchasing professional liability, also known as errors-and-omissions insurance, now have a simpler way to buy. Sponsored by the National Ethics Association, helps real estate broker-owners purchase insurance protection at an affordable cost in five minutes or less.

Thanks to its convenient online shopping platform, brokers and owners no longer must fill out long, confusing applications or wait hours or days to receive an insurance quote. With its innovative e-commerce technology, provides “click and bind” coverage, in minutes, with no hassles or hidden fees.

“Significant numbers of real estate brokers and owners remain unprotected at a time when E&O risks continue to be high,” said Steven R. McCarty, Chairman, National Ethics Association. “One big reason is the purchasing process can be difficult and the costs can be out of reach for the average broker. strives to meet both of these issues head on.”

A key feature of is its focus on serving low-risk real estate professionals. Re-engineering the underwriting process, asks buyers nine brief risk-assessment questions. They must answer “no” to each in order to qualify for coverage. “By screening out high-risk individuals, the insurer can keep premiums affordable for all,” McCarty said.

Although it recently added E&O insurance for real estate professionals, San Diego, California-based EOforLess entered the E&O insurance business in 2008. Today, it provides E&O products for life and health insurance agents, property-casualty insurance agents, and registered investment advisors, in addition to serving real-estate brokers and owners in every state.

EOforLess and its affiliated website is sponsored by the National Ethics Association, a trade group of financial professionals dedicated to promoting ethical and transparent business practices and to helping its members build and protect their online reputations.

A hallmark of the approach is its commitment to work only with top insurers and program administrators. To this end, it has selected Liberty International Underwriters as underwriter and Arthur J. Gallagher & Company as broker and program administrator for its real estate E&O.

Rated A (excellent) XV ($2 billion or greater) by A.M. Best, Liberty International Underwriters is operating as a subsidiary of Liberty Mutual Insurance Company. Arthur J. Gallagher & Co., an international insurance brokerage and risk management services firm, is headquartered in Itasca, Illinois and has operations in 25 countries around the globe.

The National Ethics Association’s sponsored real estate E&O policy includes limits of $1 million per claim and $1 million aggregate per insured member; including damages and claims expenses. It also provides a deductible of $2,500 per claim.

In addition to offering real estate brokers and owners highly competitive rates and shopping convenience, the policy offers features such as:

  •     Prior Acts / Retroactive Coverage: for claims resulting from wrongful acts committed by the insured on or after the retroactive date.
  •     Discrimination Coverage: for damages and/or claims expenses resulting from any claim made against an insured based from discrimination on the basis of age, sex, gender, military service, race, creed, color, religion, handicap, disability or health condition, marital status, national origin, or sexual preference.
  •     Lockbox and Megan’s Law Coverage: for bodily injury and/or property damage caused by any third party, arising out of the use and operation of a lock box placed by the insured to control access to residential real property.
  •     Pollution/Mold Coverage: for claims arising from the diminished value of 1 to 4 unit residential properties for the insured’s failure to disclose pollutants.
  •     Owned Property Coverage: for claims involving only the sale (not purchase) of a 1 to 4 unit residential property in which any insured has or will have a financial interest in.
  •     Contingent Liability Coverage (Open House): for claims brought against any insured for damages because of bodily injury or property damage that: (a) isn’t covered by a standard general liability coverage form; and (b) caused by a wrongful act solely in the rendering or failing to render Professional Services.
  •     First Party Cyber Liability: for reimbursement for costs incurred by hiring a third party consultant or advisor approved by the company to mitigate the potential for claims arising from a security breach

To learn more about the National Ethics Association’s sponsored real estate errors-and-omissions insurance policy, visit or call (800) 282-1831.

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Stacia Fiore
+1 800 282-1831 Ext: 202
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National Ethics Association
since: 12/2011
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