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Real Estate Errors and Omissions Insurance Corporation

A special act corporation formed pursuant to the Real Estate Services Act solely to provide errors and omissions insurance to British Columbia real estate licensees.

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February 16, 2017

What are my obligations as an insured?

A

What are my obligations as an insured?

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Your first obligation is to report a claim or potential claim to E&O as quickly as possible (see below), along with complete information about it. Include your written statement responding to the allegations and provide us with all documentation related to the matter.

Your second obligation is to assist and co-operate with E&O staff and any outside counsel we may retain to handle the matter. This may include assisting us in investigating coverage, attending interviews, examinations and court hearings, negotiating settlements and generally defending the claim.

You are also obligated to obtain our agreement before you take any steps on your own in relation to a claim or potential claim, including making any admissions, settlements or assuming any obligations.

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