RE/MAX® E&O Protection Plan
- In the event that a claim is made against you or you become aware of a potential claim during the policy period, written notification of the claim or potential claim should immediately be submitted to the carrier.
- Report the following information:
- Your firm’s name, address and phone number
- Your policy number
- Date, time and location of the incident
- Brief description of the allegations
- Names and addresses of persons making the claim
- Amount of demand, if known, and date received
- Do not admit liability, and do not attempt to place blame.
- Accept all papers (documents, letters, memos, etc.) without comment or argument.
- Prepare a written, detailed narrative of what happened.
- Assemble and retain the following materials for future reference:
- Any lawsuit papers or legal proceedings
- Relevant client contracts or agreements
- Any other pertinent correspondence or documents (including photographs)
- Make a copy of all records and correspondence for your files.
- Consult with your claims representative before agreeing to participate in any conferences to discuss the allegations.
Learn how to survive an errors & omissions claim. Just keep these three points in mind:
- Errors and omissions claims are an occupational hazard. They can happen to anyone.
- Many experienced and respected real estate agents have been sued. Not only have they survived, most continue to prosper in highly successful firms.
- To help resolve your claim, follow the steps outlined above.