Mortgage Brokers E&O

Availability: In all 50 states, D.C., and US territories*

Coverage: Admitted, with an A rated carrier

Target risks: Mortgage brokers who originate commercial or residential mortgage loans

Minimum premium: $460

Deductibles: Starting at $1,000

Limits: Up to $5M
 

Policy features:

• Agent Protection coverage up to $50,000 for first party medical expenses
• Identity Theft Expenses coverage up to $20,000 for expenses resulting from an Identity Theft Event
• Telephone Consumer Protection Act coverage up to $50,000
• Loss of Earnings coverage up to $50,000
• License Proceedings coverage up to $50,000
• Discrimination coverage for defense and damages at no additional premium
• Definition of Insured includes trade names, predecessor firms, DBAs, and vicarious insureds
• Open house claim coverage for bodily injuries and property damage that happen during open house events
• Client cyber network damage claims coverage included for protection against security breaches or electronic infections affecting the client's network
• Professional Real Estate Services coverage applies regardless of the presence of written contracts or fees
• Virtual home tours eligible for coverage at no additional cost
• Use of drones when in the provision of a professional service is eligible for coverage at no additional cost
• Environmental hazards included to policy limits at no additional premium
• Public relations event coverage up to $50,000 per policy period
• Privacy response coverage up to $20,000 for expenses incurred by the insured due to a security breach
• Death, disability and non-practicing extended reporting periods at no additional premium
• Premium credits for favorable claims experience and participation in risk management programs
• The following coverages may be available for an additional premium:
  • Construction/development
  • Residential ownership
  • Contingent bodily injury / property damage
  • Endorsement for sales, leasing, and property management of 100% owned property**
  • Mold, Employment Practices Liability coverage and more**

*Policy forms and policy terms may vary by state and territory. Not available in Guam.
**Not available in: AK, CA, CO, KS, LA, MA, MS, NC, NY, OK, RI and VA

Countrywide policy form (admitted, *applicable in all states except CA, HI, LA, NY, PR and VI)

• 2012 policy form specimen 
• 2024 policy form specimen (for new business effective 5/1/2025)  (Pending approval in D.C., LA, MD, MO and VA). 

Available endorsements (*not applicable in all states)

• 2012 Residential ownership endorsement specimen
• 2024 Residential ownership endorsement specimen (for new business effective 5/1/2025 in all states except CA, HI, LA, NY, PR, and VI. Pending approval in D.C., LA, MD, MO and VA).
• Discrimination and EPLI endorsement specimen
• Construction/development endorsement specimen
• Death or disability ERP endorsement specimen
• Non-practicing ERP endorsement specimen
• Regulatory exclusion endorsement specimen
• Mortgage banking exclusion endorsement specimen
• Non-profit D&O endorsement specimen
• Contingent bodily injury property damage liability endorsement specimen
• 100% owned property endorsement specimen

State specific policy forms 

California

• CA policy form specimen (admitted)   
• CA environmental hazards endorsement specimen 

• HI policy form speciment (admitted)
  

• LA policy form specimen (admitted) 
• LA environmental hazards endorsement speciment
  

• NY policy form specimen (admitted)
• NY construction/development endorsement specimen 
• NY residential ownership endorsement specimen 
• NY regulatory exclusion endorsement specimen 
• NY mortgage banking exclusion endorsement specimen 
  

• PR and VI policy form specimen (admitted) 
• PR and VI environmental hazards endorsement speicmen
• PR and VI fair housing endorsement specimen
• PR and VI mortgage brokers exclusion endorsement specimen 

Excess & Surplus lines policy form:

• E&S industry services policy form specimen

• Real Estate E&O program highlight sheet
• What sets Victor's real estate E&O program apart? 
• Victor's Real Estate E&O program policy advantages
• Real Estate E&O program competitor comparison checklist
• Owned property endorsement coverage differences
• Real Estate E&O program 2025 expansion overview

Insights

• Safeguarding your clients in a dynamic real estate market
• Do your clients' need employment practices insurance?
• Quality vs. price: not all policies are created equal
• 8 compelling reasons why your clients should insure their firm
• Tips and guidance for how your clients should navigate multiple offer situations

To help you and your clients understand and overcome risks, Victor Risk Advisory offers rock-solid industry insights, risk mitigation resources and much more.

Contact the real estate E&O team directly at realestate.us@victorinsurance.com or connect with your business development contact.

You should report not only claims, but incidents as well. An incident is any situation in which you are concerned that a claim may occur. 

For your convenience in submitting a claim, you can use our E&O claim form. Please send claim information to realestateclaims.us@victorinsurance.com.  

Here's how to ensure the fastest possible response to your incident or claim: 

1. Report your incident or claim as soon as possible by writing the CNA Insurance Companies in care of:
   Victor Insurance Managers LLC
   7700 Wisconsin Ave., Suite 400
   Bethesda, MD 20814
   
   
2. With respect to claims, all principals and staff members involved in the claim should be prepared to document the circumstances surrounding the allegation. Your written report should include the following:
   
   - Your firm's name and address
   - Your policy number
   - Date, time and location of the situation
   - Brief narrative description of the allegation against you
   - Name of person or entity making the claim
   - Amount of demand, if known
   - Any lawsuit papers or legal proceedings
   - Any other pertinent documents or correspondence, including newspaper accounts
   
   
3. If the claim or incident involves a traumatic situation, take photographs of the claim site if possible. Amateur photos taken promptly are more valuable than professional photos taken at a later date.
   
   
4. Consult your local claims specialist before you agree to attend any conferences arranged for the specific purpose of discussing the situation.
   
   
5. Do not sign or accept release from any parties without first obtaining approval from your claims specialist. 
   
   
6. Keep all pertinent letters of agreement for services, correspondence and memorandum.
   
   
7. Accept all letters, memorandum and suit papers without comment or argument. Do not admit liability and do not attempt to place blame.

Questions about a claim or circumstance?
The Victor/CNA claims hotline is a resource for policyholders to speak with a claims professional. To speak with a claims professional, dial (877) 732-5444. Please note if specialists are currently engaged, you may be prompted to leave a voicemail, which will be returned within 24 hours. 

Be advised that claims cannot be reported via the Victor/CNA claims hotline.

Victor and the National Association of REALTORS® have partnered under the NAR REALTOR Benefits® Program to provide a first-class errors and omissions (E&O) insurance program to REALTORS®. For assistance please call (888) 429-6638.

Several premium credits are available, as allowed by state law, including a credit for being an NAR member, holding select NAR designations, continuing education, use of standard contracts, use of home warranties, and implementing risk management programs. Coverage is available in all 50 states, DC and US territories. 

When it comes to the real estate industry, an outsider’s view doesn’t cut it. When our real estate underwriters are evaluating your risks, they see your transactions as clearly as you do. 

• Find an insurance broker
• Get a quote
• E&O policy coverage highlights
• E&O insurance solutions for REALTORS® brochure
• How to shield your franchise brand

To help you understand and overcome risks, Victor Risk Advisory offers rock-solid industry insights, claims scenarios, risk mitigation resources and much more.

The world is changing at an unprecedented pace. And complex new risks are emerging every year.

To help you understand and overcome these challenges, Victor Risk Advisory offers rock-solid industry insights, risk mitigation resources and much more.