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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.