Mortgage Broker Errors & Omissions
Well now there is an answer! Mortgage
Insurance Agency, Ltd., a Strategic Partner of the National
Association of Mortgage Brokers, has teamed up with Tudor and the
NAMB to provide you with an exclusive alternative to high-priced E&O
policies that are available in the market today.
Here are some of the highlights* of the program:
• Limits available from
$100,000 to $5,000,000 (subject to underwriting)
• Subprime sublimit (subject to underwriting)
• Matching of prior carrier's retroactive date (subject to
underwriting)
• Computer services coverage
• Punitive damages sub-limit (up to
$250,000)
• Disciplinary proceeding sublimit
• Automatic 30-day
extending reporting period
• In fact fraud language
• Martial
Estate coverage extension
• Supplementary payments Extension
• Non-cancellable language
• Medication deductible credit
• Multi-year tail options
• Options to purchase defense outside the
limits