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NOT ALL REAL ESTATE E&O POLICIES ARE CREATED EQUAL

 
Williams Underwriting Group (WUG), a division of Neace Lukens, has long understood that Real Estate Brokers require broad errors and omissions coverage to protect against professional liability claims.  To meet these needs we offer a competitively priced policy that automatically includes coverages that individual licensees and Firm's have requested.  Other policies may not include these coverages or coverage may be available for an additional premium charge.  Please compare our coverages with our competitors and see the benefits  you receive under the WUG Real Estate Program.
       
Higher Limits of Liability Options WUG* State Program Other Policies
Can individual licensees purchase higher limits of liability of $250,000/$750,000 or $500,000/$1,000,000 on a guaranteed-issue basis? YES Yes or No Yes or No
Can Firm's purchase higher limits of liability of $250,000/$750,000 or $500,000/$1,000,000 on a guaranteed-issue basis? YES Yes or No Yes or No
       
Fair Housing Discrimination Coverage      
Does the policy automatically include a sub-limit of $25,000 maximum for all fair housing discrimination claims? YES Yes or No Yes or No
Does the limit apply to damages and claim expenses? YES Yes or No Yes or No
Does the coverage apply separately under the Firm's coverage? YES Yes or No Yes or No
       
Lock Box Property Damage      
Does the policy have limits of $100,000 per claim with a $300,000 aggregate limit? YES Yes or No Yes or No
       
Property Management Services      
Does the policy automatically provide coverage for property management activities involving your real estate license and for additional activities which do not involve your real estate license? YES Yes or No Yes or No
Does the coverage apply separately under the Firm's coverage? YES Yes or No Yes or No
       
Earnest Money Disputes and Escrow Agent Services      
Does the policy automatically include a sub-limit of $10,000 per claim with a $25,000 total limit for Earnest Money Disputes and Escrow Agent services (as defined in the policy) when performed in your capacity as a broker or licensed agent? YES Yes or No Yes or No
       
Sale of a licensees primary or principal residence      
Does the policy automatically provide coverage for the sale or listing of a primary or principal residence by the owner of such property, provided the sale is performed under the real estate license laws of Colorado and run through the insured's brokerage? YES Yes or No Yes or No
       
Conformity to other mandated states      
Does the policy automatically and for no additional premium provide coverage that conforms to other mandated states with the exception of the state of Tennessee? YES Yes or No Yes or No
       
Franchise Grantor Coverage      
Does the policy automatically provide coverage for your Franchise Grantor? YES Yes or No Yes or No
       
Optional Coverage Endorsements (additional premiums apply)      
       
Pollution Exclusion Amendatory Endorsement Provides Claim Expenses of $2,500 per claim with a $5,000 aggregate limit in the defense of claims alleging failure to detect, report, assess the effects of or advise of the exisistence of pollution including mold and fungi.

Can individual licensees and Firm's purchase the optional endorsement?

 YES Yes or No Yes or No
       
Regulatory Complaints Endorsement Provides Claims Expenses of $2,500 per claim with a $5,000 aggregate limit in the defense of regulatory complaints. (Individual Licensees only) YES Yes or No Yes or No
       
Licensed Appraisal Endorsement Active Real Estate Licensees, who are also Appraisers, may purchase this endorsement to cover their appraisal activities. (If you do not hold an active real estate license, then you cannot purchase this endorsement and no appraisal coverage will apply. You must also maintain an active real estate license for the entire policy period for appraisal coverage to apply.) YES Yes or No Yes or No
       
Personal Identity Coverage Endorsement. This endorsement provides up to $25,000 reimbursement for expenses from personal identity theft. (Individual Licensees only) YES Yes or No Yes or No
       
*Insurance underwritten by insurance subsidaries or affiliates of Chartis, Inc.  The above descriptions are summaries only.  They do not include all terms, conditions and exclusions of the policies described.  Please refer to the actual policies for complete details of coverage and exclusions.  For a copy of the policy offered through the Williams Underwriting Group Real Estate Program, please view our website at www.wugieo.com.