Errors and Omissions: The Real Estate Insurance Alliance
The REIA program protects insurees from financial loss due to errors, omissions or negligent acts occurring in the course of their duties as defined by provincial licensing legislation. Insurance coverage is provided by an insurance carrier, Trisura Guarantee Insurance Company, through insurance brokerage BFL Canada. REIA’s volunteer board of directors administers the program and act as trustee for members in the group retention portion of the master insurance policy. Insurees can view the policy here.
E&O PROGRAM ADMINISTRATION
The Nova Scotia Real Estate Commission requires all industry members to carry E&O, however it does not administer the E&O program. The E&O program is administered by the Nova Scotia Association of REALTORS®. For questions about the E&O program, contact the Nova Scotia Program Administrator:
Fax: (902) 468-2533; 1-877-220-2533
E&O CLAIMS AND REPORTING
Upon receipt of verbal or written notice of claim, or if you become aware of an incident which could result in a claim against you for an alleged error, omission or negligent act:
1) Give notice immediately to:
Centra Claims Management Inc.
600-175 Carlton St.
Winnipeg, MB R3C 3H9
Telephone: (204) 318-2002, Fax (204) 977-8450
2) Complete and fax incident reporting form immediately to:
Centra Claims Management Inc. at (204)-977-8450 attaching all relevant documents (e.g. Agreement of Purchase and Sale, Seller Brokerage Agreement, File Notes). Please retain the originals on your files.
You will be contacted by an adjuster following receipt of your reporting form.