IDAHO REAL ESTATE ERRORS & OMISSIONS INSURANCE
RISC Rice Insurance Services Company, LLC
Under agreement with the Idaho Real Estate Commission
October 1, 2008 B October 1, 2009
AN OVERVIEW OF RISC=S GROUP REAL ESTATE ERRORS AND OMISSIONS PROGRAM:
All active Idaho real estate brokers, salespersons and firms are required to carry errors and omissions insurance as a condition of
licensure. The Idaho Real Estate Commission has contracted with Rice Insurance Services Company, LLC (RISC) to administer the
group Errors & Omissions (E&O) insurance program for Idaho licensees. Continental Casualty Company, one of the CNA insurance
companies, is the insurance carrier for the E&O Program. The CNA insurance group is one of the largest writers of commercial
property casualty insurance in the United States and is rated AA (Excellent)@ by A.M. Best.
RISC provides all servicing (claims handling, policy issuance, marketing mailings, customer service, etc) of the Idaho account. The
management team of RISC specializes in handling group programs for states with mandatory real estate E&O insurance requirements.
RISC is located at 4211 Norbourne Boulevard, Louisville, Kentucky 40207-4048.
This program is designed exclusively to provide professional liability insurance for Idaho Real Estate Licensees. Even the most careful
professional cannot always prevent the filing of a frivolous lawsuit nor can he/she preclude making an honest mistake. Under this
program, the insurance carrier has the responsibility of defending, as well as paying a settlement or judgment on covered claims, up to
the limits of liability.
The following is intended to address the most frequently asked questions about the group E&O insurance program.
1. What kinds of Claims are covered?
A. Claims which were unknown and unforeseen at the inception of the policy period.
B. Claims arising from a negligent act, error or omission in the performance or failure to perform Professional Services as a real estate salesperson
or broker;