Who: Victor O. Schinnerer & Company is one of the largest and most experienced underwriting managers of specialty insurance programs in the world. Schinnerer serves more than 46,000 policyholders in various specialty industries through independent insurance agents and brokers and offers errors & omissions insurance coverage to both REALTORS® and REALTOR®-firms.
What: Victor O. Schinnerer & Company and the National Association of REALTORS® have partnered under the REALTOR Benefits® Program to provide a first-class errors and omissions (E&O) insurance program to REALTOR® members.
Several premium credits are available, as allowed by state law, including a credit for being an NAR member, holding select NAR designations, continuing education, use of standard contracts, use of home warranties, risk management programs, etc. Full details are available from Schinnerer. Additionally, a longevity credit is available for firms that have been insured with Schinnerer for three years. An additional longevity credit is available after reaching the five-year mark.
Coverage is available in all 50 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands.
The program offers coverage for firms and individual agents.
- The broker/firm policy covers the broker-owner, other brokers on staff, agents on staff, personal assistants, and employees and independent contractors who perform real estate services on behalf of the firm.
- The individual agent policy is transferable, allowing an agent to maintain coverage when moving from firm to firm.
Coverage is also available for a broad range of other real estate specialties, including commercial/industrial agents, farm and land agents, property management, sales and management of owned property, appraisals, sale of property constructed or developed by a related entity, auctioneers, and escrow and closing agents.
Premium rates are filed with the department of insurance in each state and are competitive in the marketplace. Rates vary, based on the type of coverage needed. The program offers a wide range of deductibles and claim limits.
If you have a claim, your claim will be handled by dedicated real estate claims specialists and attorneys across the country that specialize in real estate claims litigation.
Schinnerer offers free pre-claims assistance to help prevent an issue from becoming a claim. Typical claims brought against real estate professionals include:
- Fraud/intentional acts/misconduct
- Breach of contract
- Breach of fiduciary duty
- Civil rights/fair housing
How: In order to obtain a policy through Schinnerer you must first submit an application. Your insurance agent or broker will then respond with a quote for coverage. Click here to get started.
Be sure to note that you are a member of the National Association of REALTORS® and provide your NRDS ID on your application to receive your policy credits. If you don’t know your NRDS ID you can look it up here.
To learn more visit www.Schinnerer.com/NAR or call 888-429-6638.
General Program Brochure
Click here to learn more about the E&O insurance solutions and member benefits available to REALTORS® and REALTOR®-firms from Victor O. Schinnerer & Company. Included are details about claims and managing risk, information about the company, and information about how to get a quote.
Franchise Program Brochure
Franchise real estate brokerages have the same E&O risks as independent firms, but they do have one unique risk – their franchise brand and reputation. This reality makes protecting your well-known brand all the more important. Click here to learn more about specialized coverage solutions for franchised firms.
War Stories: When E&O Insurance Can Work for You
War Stories are claims scenarios that go a step further to provide the outcome of the claim and provide helpful risk management tips.
60 Years of Innovation
Congratulations to Victor O. Schinnerer & Company for 60 years in business!
About the Program Insurer
CNA (Continental Casualty)
Serving businesses and professionals since 1897, CNA is the country's eighth largest commercial insurance writer and the 14th largest property and casualty company. CNA's insurance products include commercial lines, specialty lines, surety, marine and other property and casualty coverages. CNA's services include risk management, information services, underwriting, risk control and claims administration. For more information, please visit CNA at www.cna.com. "CNA" is a registered trademark of CNA Financial Corporation. Certain CNA Financial Corporation subsidiaries use the "CNA" trademark in connection with insurance underwriting and claims activities.
Victor O. Schinnerer & Company | In CA, dba Schinnerer Insurance Services | CA Ins. Lic. #0156109
Program availability and eligibility requirements may vary by partner program. See partner websites for details, terms and conditions.