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Texas Dept of Insurance

Example E&O Claims

E&O Claims Examples

Real Estate Agent / Broker

A prospective purchaser sued a real estate broker when the transaction failed due to close at the last minute due to difficulties associated with their purchase financing. The purchaser ended up losing the non-refundable deposit for failure to close. The key allegations against the broker were for misrepresentation of the availability of deposit funds prior to the money going into escrow.

 A real estate broker handled a commercial property transaction for a client. The commercial property was directly related to a business venture the client was entering into, and that business venture ultimately failed. The client sued the broker alleging that the transaction caused the client’s business failure. The client alleged that the broker misrepresented the condition of the property, which was directly led to the business failure at the property.

 A real estate agent assisted in the purchase of a home. After closing, the purchasers discovered structural defects and deficiencies in the condition of the property. Unable to locate the sellers, they turned to their real estate agent. The purchasers claimed that the agent breached his/her duty to conduct a reasonably competent and diligent visual inspection, failed to disclose these deficiencies and conditions, was negligent in performing his/her duties and made misrepresentations as to the condition of the property

 

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Superior Insurance has access to multiple Errors and Omissions markets and can find the most competitive rates for your policy!

Insurance Poll

What is most important to you when purchasing insurance?

Policy content - 0%
Price - 0%
Financial strength of the carrier - 0%
Customer service - 50%
Having a dedicated agent - 0%
Buying online, convenience - 50%

Total votes: 2
The voting for this poll has ended on: 01 Jul 2013 - 11:32