Can E&O insurance be purchased on a per transaction basis

5 Replies

Hello BP,

I am a licensed broker (not sales agent) but not currently actively using my license. I'm looking to broker a deal and would like to purchase E&O insurance for just this transaction. Does anyone know if that is possible or offered?

Thanks,

Jason

Originally posted by @Jason Mak :

Hello BP,

I am a licensed broker (not sales agent) but not currently actively using my license. I'm looking to broker a deal and would like to purchase E&O insurance for just this transaction. Does anyone know if that is possible or offered?

Thanks,

Jason

Don't we all wish insurance companies operated like that...

Kudos,

Mary

Check with CRES insurance services. I believe the rating basis is per transaction but you do need to put a deposit down. It is $1220 to get coverage bound. An independent agent that works in this space can access CRES for you as well.

For an active office with many transactions, yes. In your case, no. Also, your license would have to be active, and the E&O coming thru your broker, assuming you don't want to open a brokerage for one deal.