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Texas REALTORS® strongly encourages members to maintain E&O insurance. There are many lawsuits in which a Texas REALTOR® may be involved that are not significant to Texas REALTORS® or the real estate industry as a whole.
E&O Insurance isn’t required for a TX brokerage (TREC), unless the designated broker owns less than 10% of the company. At RE BROKERAGE, we own 0% of your company. Therefore in Texas, Errors and Omissions insurance is required with the amount of coverage to be at least $1 million per occurrence. It sounds pricey, but it’s definitely not and we’ll refer you some insurance providers.
Errors and omissions insurance (E&O) is a type of professional liability insurance that protects companies and their workers or individuals against claims made by clients for inadequate work or negligent actions. Errors and omissions insurance often covers both court costs and any settlements up to the amount specified by the insurance contract.
RE BROKERAGE
Travis@Re-Brokerage.com
844-538-1234
