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Errors and Omissions Policy

As a property manager it is important that you have an Errors and Omissions Policy that you know you are going to be able to trust. You should know exactly what your Errors and Omissions Policy does for you. Our Errors and Omissions Policy for property managers provides extensive coverage and includes coverage for…

 

  • Owned & Managed Properties - Coverage provided for many owned and managed scenarios
  • Failure to Place/Failure to Maintain Insurance - No Exclusion
  • Personal Injury - Coverage is provided
  • Subsidiaries - Newly acquired subsidiaries are automatically included as insured when revenues are 15% or less of insured's annual revues
  • Full Severability - Is provided with respect to fraud so that knowledge by one insured person cannot be imputed to another insured person, thereby preserving coverage for those who are innocent
  • Allegations of Fair Housing Discrimination Violations Legal Defense -Is provided
  • Allocation - 100% defense costs for claims alleging both covered and uncovered matters.
  • Punitive and Exemplary Damage - Coverage is provided (where insurable)
  • Consent to Settle Clause - Company will still be responsible for seventy percent of any covered amounts in excess of the proposed settlement
  • Domestic Partners as Insured - Included in definition of insured
  • 60 Day Extended Reporting Period from Expiration of Policy
  • Duty to Defend - Anywhere in the world
  • Non-cancellable - Except for non-payment of premium
  • Internet - Coverage is provided for insured services including those that are performed electronically utilizing the internet
  • Bodily Injury/Property Damage - Exclusion does not apply to contingent BI/PD

 

If you have any questions about your Errors and Omissions Policy or if you are a property manager and you do not have an Errors and Omissions Policy, call us today. We can help you understand what coverage you need and ensure that you are getting all of the necessary coverage at a reasonable price. We work with a wide variety of quality insurance providers and can ensure that you have the coverage that you need.