The Book 5-5-16

Errors & Omissions Insurance Errors and Omissions Insurance (E&O)

The ever-increasing complexities of real estate transactions and the rising use of litigation have prompted a need for errors and omissions (E&O) insurance programs to reduce the risk to sales associates and the real estate firms they represent against potential lawsuits. There are many options to satisfy the state requirement of a $100,000 policy for E&O insurance. The $100,000 refers to the limits on the E&O policy. E&O is a state requirement to hold a real estate license and is renewed every two calendar years. The current plan continues through 12/31/16 - our next renewal month will be December 2016 for the next two year period. We recommend two different options for E&O - please review each option carefully. Both plans offer the required limits of $100,000 for your real estate license required by the State of Tenneseee.