Anyone who works in the insurance industry knows that there are risks involved. Anytime you are dealing with investments, property and other important legal transactions, there are bound to be mistakes, misunderstandings or simple complications. With real estate professional liability insurance, agents and brokers can be protected from financial ruin should a client file a claim against them, whether founded or not. It can be difficult to imagine that someone you work closely with would be unhappy with the hard work that you complete on their behalf, but some negative situations may arise when you would be glad to have coverage. While all insurance claims against real estate agents are not the same, there are a few that are relatively common. Some of those include failure to disclose material facts, failure to inspect property, failure to provide documentation, discrimination, slander and libel, to name a few. Whether you mean to or not, there may be instances in which you make a small mistake that could be viewed as intentional by your clients. With real estate professional liability insurance, you are able to protect your business and continue to run your company even if litigation is brought up against you. You work hard doing the job that you love, so make sure that you have the coverage that you need to protect what you have built.
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