E and O Mandate ?

E and O insurance Mandate?

Why do some States Mandateor Require that a Realtor has E and O insurance.Does the state, somehow, think that this insuranceprotects the consumer?

Is the State in some sort of collaberationwith the E and O insurance provider or does the State want to Protect the Realtor, because the E and O insurance, by it’s very nature is not designed to protect the consumer.

Some States even threaten disciplinary action

for failure to carry Errors and Omissions (E&O) Insurance.

They even threaten to Suspend the Agent's License if they Fail to Have E and O insurance.

But the Insurance is to Protect the Agent...

So what are we missing here?

Do the State Licensings Boards for Real Estate know that the E and O insurance
does not protect the consumer ? Or are they just REALLY wanting to make sure that Realtor has the Protection they need so that they will not get hurt financially in a real estate transaction?

It is a Mystery to Me, a Real Estate Broker owner who faithfully has had E and O insurance since the moment I opened my own Real Estate office, even though it was not required.

I thought I was going above and beyond to protect my real estate consumer.

Come to Find Out There was NEVER protection

for my Real Estate Consumer

I just Did not Know.

www.SavvyBroker.com
Crystal L. Cox ~ Your Real Estate Industry Whistleblower...