Munich Re Specialty – North America (MRS-NA) has expanded its Real Estate Professional Liability solution, providing specialized protection for real estate professionals facing increasingly complex professional, regulatory, and operational exposures.
Created for a dynamic real estate marketplace, this coverage helps protect businesses from claims involving errors, omissions, negligence, misrepresentation, and other professional services risks that can result in significant financial loss, litigation expenses, and reputational damage.
Marcia Blanco, Head of Financial Lines, MRS-NA, said: “As commercial real estate firms continue to expand beyond traditional roles into development, asset management, leasing, consulting, and property operations, professional liability exposures are becoming broader and more challenging to predict.
“Our Real Estate Professional Liability solution is designed to help clients navigate this changing environment with flexible coverage and underwriting expertise tailored to the real estate sector.”
The enhanced offering from MRS-NA supports a broad array of real estate specialists, including property managers, leasing agents, appraisers, real estate consultants, asset managers, auctioneers, mortgage professionals, and business brokers.
Coverage is available on both a primary and excess basis and can provide limits up to $5 million, with duty-to-defend protection and customizable professional services definitions to address the unique exposures of individual insureds.
Key policy features include a broad definition of insureds that may extend to independent contractors, joint ventures, and subsidiaries, along with automatic coverage for qualifying subsidiaries.
Additional enhancements include personal injury coverage for certain bodily injury and property damage claims, innocent insured protection for alleged fraud and discrimination claims until final adjudication, and defence-cost allocation provisions for covered and uncovered matters.
Real estate-specific options, including owned-property carve-back coverage for eligible risks, are also available.
The policy can also provide supplementary benefits for disciplinary proceedings, subpoena expenses, and loss of earnings, as well as punitive damages where insurable by law.
