To protect REALTOR® associations and their MLSs from patent litigation risk, one of the costliest forms of business risk today, the National Association of REALTORS® has added limited patent liability insurance to the NAR Insurance Program for associations and MLSs. The coverage, provided at no cost to associations, reimburses up to $50,000 in expenses to resolve patent litigation, both legal and settlement, including a $25,000 per claim retention. There is no sign up; all qualified REALTOR® associations and REALTOR®-owned MLSs are automatically covered.
Associations may increase coverage levels by purchasing excess insurance online at nar.aon.com. For more, contact Finley Maxson, 312-329-8381, firstname.lastname@example.org.