Berkley Service Professionals Announces New Real Estate Developers E&O Product

Posted by & filed under News Releases.

Glastonbury, Conn. (April 7, 2025) – Berkley Service Professionals, a division of Berkley Alliance Managers, a Berkley company, specializing in professional liability insurance products for miscellaneous non-medical service professionals, is excited to announce the launch of its Real Estate Developers E&O product.

“We are pleased to broaden our product offering to include Real Estate Developers E&O coverage,” said Tom Rea, executive vice president, Berkley Service Professionals. “As a leader in the miscellaneous professional liability space, we are continuously looking for ways to serve our wholesale brokers and policyholders better.”

The Real Estate Developers E&O product protects developers from lawsuits or claims related to property damage, bodily injury, pollution and third-party discrimination. This coverage can safeguard developers from financial loss while also protecting their reputation.

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Live Event: Risk Management Best Practices for Real Estate Professionals

Posted by & filed under Events.

Presented by:
Jay S. Gregory, Partner, Gordon Rees Scully Mansukhani
Tom Rea, Executive Vice President, Berkley Service Professionals

Wednesday, October 2, 2024
10-10:30 AM Pacific
12-12:30 PM Central
1-1:30 PM Eastern

Register Now

Real estate is a difficult and demanding profession. It can also be risky especially when disappointed buyers or sellers improperly blame you when things don’t go as they expected.

In this half-hour live event, we will:

  • Explore the risks inherent in real estate transactions
  • Provide guidance for managing and minimize these risks
  • Discuss how to avoid conduct that can create an exposure to a professional liability claim
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How to help realtor clients avoid liability risks

Posted by & filed under Published Articles.

Rising interest rates, high home prices, a tight labor market and a possible recession all create performance pressure for realtors.

By Paul Dillon and Donna Genco | July 11, 2022

Independent insurance agents have an opportunity to grow their book in real estate — by providing the highest-quality real estate liability risk-management to carriers and by helping realty clients avoid potentially costly exposures.

Rising interest rates, high home prices, a tight labor market, and a possible recession can all put pressure on realtors to perform fast and bend the rules. Some may even be tempted to take on the roles of other professionals to provide a quick answer or expedite a transaction.

Insurance agents who place real estate professional liability coverage need to be on top of the situation for their clients’ sake and for their own relationships with carrier partners.

Insurance agents who keep realtor “mission creep” top of mind will maximize their value to both realtor clients and underwriters.

Are there adequate guardrails?

Real estate agents sometimes find themselves delving into legal, financial and technical areas related to the sale of a property. It may be that they are trying to get a deal done expeditiously. Or, it may be they do not have easy access to a group of independent experts. Or the client may refuse to follow the realtor’s recommendation that an expert be engaged. When a realtor takes on the role of other professional advisors to a transaction, they increase their professional liability exposure.

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