Preferred Concepts LLC, through Mercator Risk Services, offers a competitive Professional Liability (E&O) insurance program tailored specifically for real estate agents and brokers. This wholesale brokerage market is available in all 50 states and is designed to meet the needs of residential and commercial real estate professionals, including hard-to-place or financially distressed accounts. Whether your client is a small residential brokerage or a larger commercial real estate firm, this program provides flexible underwriting and broad accessibility across multiple carriers.
Ideal Accounts and Appetite
This program is a fit for a wide range of real estate professionals, including:
- Residential agents and brokers
- Commercial real estate agents and firms
- Leasing and property management professionals
- Firms that handle both residential and commercial exposures
Mercator Risk Services has experience evaluating accounts that are typically harder to place, such as those with prior E&O claims, weakened financials, or unusual operational exposures. If an account has been declined elsewhere because of claims history or stability concerns, this program is worth submission.
Coverage Highlights and Advantages
Coverage is offered on a claims-made basis and includes market-friendly features designed for real estate professionals:
- Defense costs are typically outside the policy limits and deductible
- Multiple limit and deductible options to match firm size and risk profile
- Broad coverage for a variety of real estate services and transaction-related exposures
Policy wording can vary by carrier, and Mercator can accept your existing application (except for renewals) or provide a customized submission form to speed placement.
Underwriting Notes
Underwriting flexibility is a key strength. Pricing and eligibility are driven by factors such as:
- Types and scope of services performed (sales, leasing, property management, etc.)
- Percentage of commercial versus residential exposure
- Firm size, geographic footprint, and prior claims history
Mercator encourages submissions of challenging or unusual accounts and will work to find options across various carriers. Example scenarios that often place well here:
- A small regional brokerage with one past E&O claim but otherwise strong controls and training programs.
- A property management firm handling mixed-use buildings that needs coverage for both leasing errors and tenant dispute exposures.
Territories and Availability
This non-admitted program is available nationwide in all 50 states and the District of Columbia. You can access these markets through Preferred Concepts LLC and Mercator Risk Services regardless of the client’s location.
Why Work With Preferred Concepts LLC
Preferred Concepts LLC, partnering with Mercator Risk Services, brings focused expertise in E&O for real estate professionals. Their strengths include flexible underwriting, access to multiple carrier markets, and a willingness to consider hard-to-place risks. The team aims to provide practical placement solutions and responsive service so you can secure appropriate coverage for your clients.
To discuss a specific account or begin a submission, contact Mercator Risk Services at (860) 527-9717 or email [email protected]. Additional product details and applications are available at www.mercatorpro.com.
Frequently Asked Questions
What types of accounts are a good fit for this program?
Ideal accounts include residential and commercial agents and brokers, leasing professionals, and property managers. The program also considers accounts with prior claims or other challenging exposures.
Is this program available nationwide?
Yes. The program is available in all 50 states and Washington, D.C.
Can I submit an account with prior E&O claims?
Yes. Mercator Risk Services evaluates distressed and hard-to-place accounts, including those with a claims history.
What types of forms are used for this coverage?
Coverage is generally written on a claims-made basis with defense costs outside the limits and deductible; specific forms vary by carrier.
How do I get started with a submission?
You may submit using an existing application (not renewals) or request a customized application from Mercator to streamline the submission process.
Need help placing an account? Connect with a market specialist.