Every active real estate licensee, including licensed real estate companies with more than one broker, shall have in effect a policy of errors and omissions insurance to cover all acts requiring a license. Licensees can be covered under their company’s umbrella E&O policy.
The Division has contracted with Rice Insurance Services, LLC to administer the group E&O insurance program for real estate brokers.
Group E&O policies
Some licensed brokerage firms carry a group E&O policy that provides coverage to all brokers associated with that firm for the duration of their employment/association with that firm. Terminating employment with that brokerage firm may result in the need to purchase 'tail' coverage and a new individual E&O policy.
Detailed information on E&O insurance policy requirements (limits, deductibles, etc.) can be found in Chapter 2 of the Colorado Real Estate Manual, Commission Rule 3.9.
Division of Real Estate Resources
E&O Insurance Certificate of Independent Coverage
Real Estate Brokers Reinstatement and Reciprocity
Rice Insurance Services Resources
RISC Enrollment form and Information
RISC Q&A on Colorado E&O Coverage
RISC E&O Insurance Risk Reduction White Papers
RISC Importance of Timely Renewal and Continuous Coverage
RISC Reasons to Consider an Extended Reporting Period When Moving Firms
RISC Reasons to Consider an Extended Reporting Period When Retiring or Inactivating License
Independent Coverage Certification Form
How to Reduce the Risk of Having an Uncovered Claim
Knowing When a Claim Is Made and How to Report It
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