Victor’s strong and stable real estate E&O program amid “tumultuous” market

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The real estate E&O insurance marketplace is “cyclical,” according to Zach Vollmer, real estate program manager at Victor. When the real estate market is growing, the frequency of E&O claims is generally predictable, with increases in claims closely mirroring increases in overall transactions. However, when the housing market is volatile and home sales and valuations decrease, there’s often a sharp uptick in claims driven by unhappy individuals in the home-buying process. 

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Over the past year, the real estate E&O insurance marketplace has been “extremely tumultuous,” despite positive trends in the US housing market. Vollmer commented: “The number of available options for realtors and real estate professionals to purchase quality E&O coverage has decreased significantly. We’ve seen multiple markets exit the space altogether,…

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