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Important Update Regarding Real Estate Errors & Omissions Applications

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Important Update Regarding Real Estate Errors & Omissions Applications

Your Preferred Source For Professional Liability Insurance for Real Estate Agents & Brokers, Real Estate Appraisers and Accountants, Tax Preparers and Bookkeepers

Important Update Regarding Real Estate Errors & Omissions Applications

Please note that your attention is requested regarding changes that have been made to both the Realty Express and standard Real Estate Errors and Omissions insurance applications. These changes involve the addition of, or modifications to underwriting questions on the applications. We are pleased to note that premiums on the Express applications are not affected by these changes. The Herbert H. Landy Agency, in conjunction with its A++ rated (A.M. Best) insurance carrier, continues to offer excellent coverage with extremely competitive premiums starting at just $429 in most states!

Please Note Changes and Information Affecting Our Real Estate Agents & Brokers Errors & Omissions Insurance Applications

  • Begin using the new applications effective July 1, 2010 for NEW BUSINESS application

  • Begin using the new  applications effective September 1, 2010 for RENEWAL BUSINESS applications
  • The Updated and Correct renewal applications will be sent to your client, pre-populated with their name, address, renewal dates and policy number approximately 90 days prior to the renewal date. Your agency will be  identified in the correspondence and the client will be instructed to complete the application and return it to your agency. Please return the application to us via fax or email. This procedure is not changed from our current renewal process.

  • You can always locate the current New Business applications on our website at http://www.landy.com/ in the Partner Resource Section.
  • The Realty Express application has a 7th qualifying statement added. If the client can answer TRUE to the 7 qualifying statements, they are eligible to use this application. Return the properly completed application to us, along with a net check from your Agency payable to the Herbert H. Landy Insurance Agency for the desired premium level as per the application, minus your Agency’s 12% commission plus all applicable taxes, surcharges and fees.  If the client cannot answer TRUE to all qualifying statements, please have them complete the standard application for underwriting review.  Please note that the Realty Express application features Claim Expenses outside the limit of liability and a Loss and Expense deductible option only. Should your client want a Loss Only deductible, they must complete the standard Real Estate Errors & Omissions application.

  • The standard Real Estate Agents and Brokers Errors & Omissions insurance application has also changed. New questions have been added relating to bank-owned properties; the order of some questions has changed; and some information previously asked for will no longer be required. Please let us know if you have specific questions on these changes.

  • For Florida, New Hampshire and Iowa applications, your Agent Name, Signature and/or License information is required. Please make sure to enter the requested information on applications for these States.

  • For your convenience we have added a fillable text box on the payment page. From within Adobe Acrobat or Adobe Reader you can personalize the payment page with your agency contact information.

Thank you for your attention to this important information. To view samples of the new applications, please click on these links:

REAL ESTATE ERRORS AND OMISSIONS INSURANCE APPLICATION

REAL ESTATE ERRORS AND OMISSIONS INSURANCE APPLICATION for Massachusetts

REALTY EXPRESS APPLICATION for all states except CA and MA

REALTY EXPRESS APPLICATION for California

REALTY EXPRESS APPLICATION for Massachusetts

As always, please contact us for further information or for any questions you might have. We appreciate your business and look forward to continuing to provide you with the finest service and professional liability coverage available.

Betsy A. Magnuson, President
The Herbert H. Landy Insurance Agency, Inc.

Personalized Assistance & Service: Call us, we’ll answer the phone!
Experienced and Prompt Underwriting and Policy Service!
For questions or information, contact Betsy Magnuson at 800-336-5422 x 108 or at betsy@landy.com, or John Torvi at johnt@landy.com or 800-336-5422 x117. Thank you.



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