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Originally Posted by fatlazyless
That's an interesting local Laconia real estate civil lawsuit! Don't real estate sales people usually purchase for themself an insurance policy that covers them against errors and omissions. So, it seems to me that what happened here is definately either an error or an omission or probably both, so is an insurance company very likely to pay up here?
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The E&O might not cover mis-representation or this certain act, your pricing on that policy is usually based on what type of coverage you want, or they could have looked at the policy (the plaintiff that is) and filed for everything under the sun and also coverages that were not listed and waited to see what the court would allow to stick as part of the lawsuit
This coverage is a very difficult one to understand from outside the underwriter/agent world. I think it could almost fall under professional liability. But to be honest on the insurance I work on, just because you promise something, does not mean you are covered when you do not deliver and then the insurance company will pay