Professional Indemnity Insurance can respond to certain claims alleging that a Real Estate Agent’s professional services, advice, error or omission caused financial loss.

Examples can include allegations involving:

• Misleading or inaccurate property advertising
• Failure to disclose relevant information
• Incorrect advice
• Errors in contracts or notices
• Failure to follow client instructions
• Property management errors
• Rental or maintenance administration
• Inspection-related errors
• Miscommunication between parties
• Breach of professional duty
• Unintentional defamation
• Certain intellectual property allegations

Depending on the policy and circumstances, cover can include:

• Legal defence costs
• Expert costs
• Insured compensation or damages
• Approved settlements

A claim does not need to ultimately succeed for legal costs to arise.

What should be checked? #

Cover depends on matters such as:

• Insured professional services
• Policy wording
• Exclusions
• Excess
• Limit
• Retroactive cover
• Known circumstances

Matters involving fraud, dishonesty or trust money can be treated differently between policies and should not be assumed to be automatically covered.

Contact our team before adding materially different real estate services.