Legal Question in Real Estate Law in California
do i need my own insurance?
If an unhappy client is threatening to sue my company and myself for misconduct- whatever that means, will I be completely covered by my company's E&O insurance or do I have to defend myself? I am a w-2 employee.
3 Answers from Attorneys
Re: do i need my own insurance?
It depends on the policy, the insurance company and the claim alleged. Assuming you are a real estate licensee, and the misconduct is being alleged with respect to a real estate loan or transaction, most E&O policies will cover the claim if it's negligence based. If the claim is intentional fraud or theft, the policy may deny coverage or defend under a reservation of rights. You should at least tender the claim to the insurance company.
Re: do i need my own insurance?
Answered this already.
Re: do i need my own insurance?
It's hard to say for sure, because you are quite vague about the business you're in and the type of misconduct possibly involved. Since you ask under the real estate heading, I'm guessing maybe this is an agent-broker situation. In my experience, even relatively shabbily-run real estate offices have insurance that protects the agents working under that broker's license. This doesn't mean they all do. Any reason why you couldn't just ask?
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