We have made substantial enhancements to our Real Estate E&O program, including a new countrywide policy form and reduced premium rates across numerous states. Our enhanced offering is effective immediately for all new business and on September 1, 2025 for renewal business.
2025 Real Estate E&O Program Expansion
Join Steve Stecker, Victor's Real Estate E&O program leader, as he explains the latest and most exciting developments in the program.
*pending approval in D.C., LA, MD, MO, VA.
*real estate E&O policy forms for CA, HI, NY, PR, VI and Excess remain unchanged
We have rewritten our nationwide policy form. Significant changes to the policy form include:
Expansion of the term Insured
Real Estate E&O underwriter Melissa McLean provides an overview of the recent expansion of the definition of "insured."
What is the change?
Definition of insured has been expanded to include DBA’s, Trade names, Predecessor firms, Teams and vicarious insured.
Under this enhancement, "Insured" now means the named insured and any persons or entities rendering professional real estate services on behalf of the named insured.
Definition / Policy language:
Insured means you and any of the persons or entities listed below, but only while rendering professional real estate services on your behalf for others: A. any person who is or becomes your partner, officer, director, employee, member, or independent contractor during the policy period; B. any person previously affiliated with you as your partner, officer, director, employee, member, or independent contractor; C. any personal assistant of an Insured as set forth in A. or B., above, but only while rendering professional real estate services on behalf of such individual Insured; D. any subsidiary or newly acquired subsidiary; E. any person with whom you form a team to advertise and perform professional real estate services; or F. any person using a trade name or predecessor firm’s name, or “doing business as” (d/b/a’s) an unincorporated entity. Insured also means any real estate corporation of which you are a franchisee, but only as respects such real estate corporation’s liability for acts or omissions of an Insured in the rendering of professional real estate services. Insured also means any vicarious insured.
Benefit of change?
By expanding the definition of "Insured," we provide our policyholders with greater peace of mind, knowing that they are protected against potential claims involving all individuals and entities associated with their professional services.
Agent Protection coverage
Real Estate E&O senior underwriter Christy Lee provides an overview of the Agent Protection coverage that has been recently added to our policy form.
What is the change?
This new coverage is designed to provide financial support for reasonable and necessary medical expenses incurred by a Victor policyholder during the policy period due to bodily injury or harm sustained while delivering professional real estate services.
Victor policyholders can access up to $50,000 in coverage for medical expenses resulting from injuries that occur on the premises of a residential property being shown, specifically caused by the actions or omissions of a non-insured natural person.
Definition / Policy language:
We will pay up to a maximum of $50,000 per policy period for reasonable and necessary medical expenses incurred by the Insured during the policy period due to bodily injury or harm sustained by the Insured while rendering professional real estate services on the premises of a residential property being shown and caused by the acts or omissions of a natural person who is not an Insured; provided that: (a) a police report is filed as soon as practicable after the bodily injury or harm and a copy is delivered to us within ninety (90) days of such filing; and (b) such expenses are insurable under the law pursuant to which this Policy is construed.
Benefit of change?
This new coverage significantly enhances protection for real estate agents, recognizing the inherent risks they face while performing their duties. It ensures that they have the financial support they need for medical expenses incurred while on the job.
Telephone Consumer Protection Act Fees and Expenses Coverage
Real Estate E&O senior underwriter Kerry Carrasquillo provides an overview of the Telephone Consumer Protection Act coverage that has been recently added to our policy form.
What is the change?
This new coverage provides essential protection for reasonable and necessary legal fees and expenses incurred while responding to actions under the Telephone Consumer Protection Act.
This coverage offers up to $50,000 per policy period for reasonable and necessary legal fees incurred while responding to actions brought under the TCPA, which is particularly important given the rise in claims related to TCPA violations. With this coverage, insured parties receive the legal support needed to defend against such actions.
Definition / Policy language:
We will pay up to a maximum of $50,000 per policy period for reasonable and necessary legal fees and expenses incurred by the Insured while responding to actions brought directly against the Insured pursuant to the Telephone Consumer Protection Act (47 U.S.C. 227) (“TCPA”); provided that such actions: 1. are first commenced during the policy period; 2. arise out of the performance of professional real estate services; 3. do not allege TCPA violations that were intentional or willful; and 4. are reported to us prior to any legal fees or expenses being incurred. In no event shall we bear responsibility for any fines or penalties assessed pursuant to the TCPA.
Benefit of change?
This enhancement empowers insureds to confidently navigate TCPA compliance, allowing them to focus on serving their clients without the concern of potential legal challenges.
Dodd-Frank Fees and Expenses Coverage
Real Estate E&O underwriter Veda Blount provides an overview of the Dodd-Frank Fees and Expenses coverage that has been recently added to our policy form.
What is the change?
A new coverage which provides up to $50,000 per policy period for reasonable and necessary legal fees and expenses incurred while responding to regulatory or administrative actions initiated by a government agency under the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.
This coverage is particularly important given the complexities of regulatory compliance in the real estate industry.
Definition / Policy language:
'We will pay up to a maximum of $50,000 per policy period for reasonable and necessary legal fees and expenses incurred by the Insured while responding to regulatory or administrative actions brought directly against the Insured by a government agency pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank); provided that the regulatory or administrative actions: are first commenced during the policy period; arise out of the performance of professional real estate services; do not arise out of services performed by the Insured as a "municipal advisor," as that term is defined in Dodd-Frank; and are reported to us prior to any legal fees or expenses being incurred. In no event shall we bear responsibility for any fines or penalties assessed pursuant to Dodd-Frank.'
Benefit of change?
This coverage is designed to offer peace of mind, allowing real estate professionals to effectively navigate regulatory challenges and concentrate on their core business activities without the added stress of potential legal issues.
Client Cyber Network Damage Claim Coverage Enhancement
Real Estate E&O senior underwriter Eric Myers presents an overview of the enhancements made to our Client Cyber Network Damage Claim coverage.
What is the change?
This update clarifies our third-party cyber network coverage, ensuring that our policyholders fully understand the scope of protection available to them.
A Client Cyber Network Damage Claim refers to a demand alleging that a security breach caused damage to a client’s network. This clarification is crucial as it outlines the coverage for claims related to network damage caused by a security breach or electronic infection that occurs while providing professional real estate services.
Definition / Policy language:
Client Cyber Network Damage Claim means a claim arising from a security breach affecting the client’s network.
Benefit of change?
By enhancing this coverage, we clarify the scope of protection against potential cyber network damage, which is increasingly relevant in today’s digital landscape. This added clarity helps real estate professionals understand their responsibilities and the extent of their coverage when addressing cyber network damage incidents.
Identity Theft Event and Expenses Coverage Enhancement
Real Estate E&O senior underwriter Fausto Petruzziello presents an overview of the enhancements made to our Identity Theft Event and Expenses coverage.
What is the change?
This enhancement offers essential protection against the financial consequences and liabilities arising from identity theft incidents. It provides coverage of up to $20,000 for reasonable and necessary expenses incurred by the insured during the policy period due to an identity theft event.
An Identity Theft Event refers to the unauthorized and fraudulent use of non-public personal information to fraudulently establish credit accounts, secure loans, enter into contracts, or commit crimes. In addition, Identity Theft Expenses are defined as the reasonable and necessary fees and expenses incurred as a direct result of an identity theft event.
Definition / Policy language:
Identity Theft Event means the unauthorized and fraudulent use of non-public personal information to fraudulently establish credit accounts, secure loans, enter into contracts, or commit crimes.
Identity Theft Expenses mean the reasonable and necessary fees and expenses incurred by an Insured that are the direct result of an identity theft event.
Benefit of change?
By clarifying these terms, we ensure our insureds understand the support available to them in the event of identity theft, significantly enhancing their overall protection.
To learn more about the updates made to our real estate E&O policy form, view our 2025 real estate E&O policy form enhancements overview chart.
We have lowered premium rates across numerous states. These reductions have a significant impact for firms with up to $1M in annual revenue, and in certain states, we have substantially reduced rates for firms with up to $5M in annual revenue.
The following states have been approved and are effective immediately for all new business:
AL, AR, CT, FL, IL, IN, KS, ME, MI, MN, NH, NJ, NV, OH, OR, PA, UT, WI.
Pending approval in D.C, MD, VA.
We have enhanced and expanded our rapid new business process. Our streamlined process still consists of just 8 simple questions, which automatically enrolls small firms into our auto-renewal system, simplifying the experience for both insureds and insurance agents.
Effective immediately, we have increased the threshold for new business to $200,000 in gross commission income, and removed restrictions on real estate firms engaged in commercial properties or leasing. This increased capacity is currently available in the following states, with plans to expand in additional states in 2025:
AL, AR, CT, FL, IL, IN, KS, ME, MI, MN, NH, NJ, NV, OH, OR, PA, UT, WI.
Pending approval in D.C, MD, VA.
Download a copy of our new rapid application for firms with up to $200,000 gross commission income.