Mortgage Brokers E&O

Availability: In all 50 states and US territories*

Coverage: Admitted, with an A rated carrier

Target risks: Mortgage brokers who originate commercial or residential mortgage loans

Minimum premium: $500

Deductibles: Starting at $1,000

Limits: Up to $5 million
 

Policy features:

• Environmental hazards included to policy limits at no additional premium
• Public relations event coverage up to $50,000 per policy period
• Discrimination coverage for defense and damages at no additional premium
• Privacy response coverage up to $20,000 for expenses incurred by the insured due to a security breach
• Death, disability and non-practicing extended reporting periods at no additional premium
• Premium credits for favorable claims experience and participation in risk management program
• Open house, mold and employment practices liability coverage and more

*Policy forms and policy terms may vary by state and territory. Not available in Guam.

• Admitted Real Estate E&O policy form

Policy forms (for CA, HI, LA, NY, PR and VI)

• California policy form and sample of optional endorsement
• Hawaii policy form
  
• Louisiana policy form and sample environmental hazards endorsement
  
• New York policy form
  
• Puerto Rico and Virgin Islands policy form and sample of optional endorsements
  

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To help you and your clients understand and overcome risks, Victor Risk Advisory offers rock-solid industry insights, risk mitigation resources and much more.

Contact the real estate E&O team directly at realestate.us@victorinsurance.com or connect with your business development contact.

You should report not only claims, but incidents as well. An incident is any situation in which you are concerned that a claim may occur. 

For your convenience in submitting a claim, you can use our E&O claim form. Please send claim information to realestateclaims.us@victorinsurance.com.  

Here's how to ensure the fastest possible response to your incident or claim: 

1. Report your incident or claim as soon as possible by writing the CNA Insurance Companies in care of:
   Victor Insurance Managers LLC
   7700 Wisconsin Ave., Suite 400
   Bethesda, MD 20814
   
   
2. With respect to claims, all principals and staff members involved in the claim should be prepared to document the circumstances surrounding the allegation. Your written report should include the following:
   
   - Your firm's name and address
   - Your policy number
   - Date, time and location of the situation
   - Brief narrative description of the allegation against you
   - Name of person or entity making the claim
   - Amount of demand, if known
   - Any lawsuit papers or legal proceedings
   - Any other pertinent documents or correspondence, including newspaper accounts
   
   
3. If the claim or incident involves a traumatic situation, take photographs of the claim site if possible. Amateur photos taken promptly are more valuable than professional photos taken at a later date.
   
   
4. Consult your local claims specialist before you agree to attend any conferences arranged for the specific purpose of discussing the situation.
   
   
5. Do not sign or accept release from any parties without first obtaining approval from your claims specialist. 
   
   
6. Keep all pertinent letters of agreement for services, correspondence and memorandum.
   
   
7. Accept all letters, memorandum and suit papers without comment or argument. Do not admit liability and do not attempt to place blame.

Questions about a claim or circumstance?
The Victor/CNA claims hotline is a resource for policyholders to speak with a claims professional. To speak with a claims professional, dial (877) 732-5444. Please note if specialists are currently engaged, you may be prompted to leave a voicemail, which will be returned within 24 hours. 

Be advised that claims cannot be reported via the Victor/CNA claims hotline.

Victor and the National Association of REALTORS® have partnered under the NAR REALTOR Benefits® Program to provide a first-class errors and omissions (E&O) insurance program to REALTOR® members. For assistance please call (888) 429-6638.

Several premium credits are available, as allowed by state law, including a credit for being an NAR member, holding select NAR designations, continuing education, use of standard contracts, use of home warranties, and implementing risk management programs. Coverage is available in all 50 states, DC and US territories. 

When it comes to the real estate industry, an outsider’s view doesn’t cut it. When our real estate underwriters are evaluating your risks, they see your transactions as clearly as you do. 

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To help you understand and overcome risks, Victor Risk Advisory offers rock-solid industry insights, claims scenarios, risk mitigation resources and much more.

The world is changing at an unprecedented pace. And complex new risks are emerging every year.

To help you understand and overcome these challenges, Victor Risk Advisory offers rock-solid industry insights, risk mitigation resources and much more.