According to Wayne Ciddio of the New Mexico Real Estate Commission, of the 14 states with mandated E&O insurance, this state's real estate professionals claims are the highest.
It is a problem that is causing concern with Rice Insurance, the top E&O carrier for GAAR REALTORS®. The E&O insurance is a pool and all real estate brokers pay the same rate whether or not they have claims. That means, if local real estate professionals don't work harder to mitigate risk, you could be facing an insurance hike or worse – Rice could stop doing business in New Mexico.
As your REALTOR® Association, we will be holding a series of educational events to help members avoid lawsuits and be fully prepared should you be sued.
The first event will be the upcoming First Wednesday Event on February 1st at 8:30 am.
Member Forum: REALTOR® Risk Management and Legal Liability
Even if you do everything right, you can still be sued.
Join us for this important Member Forum to learn what you need to do to mitigate that risk in advance. Learn from our panel of experts, including a lawyer from Rice Insurance, the steps you need to take today to protect your business from lawsuits tomorrow.
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