Brokerages, agents and property managers face claims over errors, contracts and data, and are often expected to carry specific coverage.
Coverages we usually review
- Professional liability (errors and omissions)
- General liability
- Cyber and wire-fraud coverage
- Employment practices and crime, depending on size
Where gaps often show up
- Independent agents may not be covered under the brokerage’s policy
- Wire-fraud losses are often sublimited
- Property management activity may need its own coverage
Questions worth asking
- Who is covered under the brokerage policy?
- What limits do franchise or association agreements require?
- Is wire fraud covered, and up to what amount?
General information only. Actual coverage depends on your policy, and coverage is not in force until confirmed in writing by the agency.