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E&O Insurance for Escrow Officers and Escrow Companies
We offer professional liability insurance, also known as errors and omissions (E&O) insurance, to escrow officers, escrow agents and escrow companies in select states. We also offer fidelity bonds. Our goal is to provide escrow professionals with excellent service by providing E&O coverage promptly at a reasonable cost. We offer E&O insurance from multiple insurance companies.Even if you have a history of claims or are having difficulty finding affordable E&O coverage, we can help.
E&O insurance coverage for escrow officers, escrow agents and escrow companies is available in the following states:
Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Illinois, Indiana, Iowa, Kansas, Louisiana, Maine, Maryland, Michigan, Minnesota, Missouri, Nebraska, Nevada, New Jersey, New York, North Carolina, North Dakota, Ohio, Oregon, Pennsylvania, Tennessee, Texas, Utah, Vermont, Washington, Wisconsin, Wyoming.
Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Illinois, Indiana, Iowa, Kansas, Louisiana, Maine, Maryland, Michigan, Minnesota, Missouri, Nebraska, Nevada, New Jersey, New York, North Carolina, North Dakota, Ohio, Oregon, Pennsylvania, Tennessee, Texas, Utah, Vermont, Washington, Wisconsin, Wyoming.
What do Escrow Professionals do?
Escrow professionals act as a neutral third party in a transaction. Escrow professionals are typically employed by an independent escrow company, a title insurance company, or a real estrate broker. Escrow professionals handle the transfer of funds and documents between the parties to a transaction. Escrow professionals ensure that all conditions are met before money is paid and a deed is recorded.
Why do Escrow Officers, Escrow Agents and Escrow Companies need E&O Insurance?
Escrow professionals face a long list of exposures to E&O and malpractice claims, including, but not limited to, the following*:
- Breach of contract
- Breach of fiduciary duty
- Failure to collect all funds
- Funds released before all conditions are met
- Failure to make appropriate payment
- Improper or inadequate documentation
- Funds wired to wrong account
Even if an escrow professional acted professionally and in good faith during a transaction, he or she can still be sued and could easily face tens of thousands of dollars just in defense costs.
It is therefore vital for escrow officers, escrow agents and escrow companies to have the proper E&O insurance protection.
What Coverage does an E&O Insurance Policy provide Escrow Professionals?
Errors and omissions insurance provides coverage for claims made against escrow professionals by reason of an error or omission in the performance of professional services.