The NATIONAL ASSOCIATION OF REALTORS® is pleased to inform you that it has once again renewed the Professional Liability Insurance Program for Associations of REALTORS®, MLSs, and NAR Institutes, Societies, & Councils.
NAR's insurance program provides errors and omissions, directors and officers, employment practices, crime coverage and limited patent protection to the National Association, its Affiliates, Institutes, Societies and Councils, and to Associations and MLSs that are in compliance with the policies promulgated by the National Association's Board of Directors. Directors, Officers, and Staff of each insured also are generally covered.
The 2018 policy is valid from Jan. 1, 2018, to Jan. 1, 2019. Please read all of the below documents carefully to understand the policy.
The Program will continue to be administered by Chubb (formerly ACE American Insurance Company- ACE and Chubb merged in 2016). In addition, limited patent insurance coverage has been added to the Program for associations and MLSs, and these Program coverages will be administered by RPX Insurance Services.
Subject to certain conditions, the Program is provided to the above at no additional cost to all eligible associations, affiliates, and MLSs. Visit the Insurance Program’s page (www.nar.realtor/liability-insurance) to view a video that reviews the documents in this mailing and all other information about the Program.
The deadline for excess coverage purchase is April 2, 2018. Unlike prior years, please note that this deadline will not be extended. Associations and MLSs who choose to purchase excess insurance can now complete their applications electronically and pay via credit card. The electronic applications can be accessed at https://nar.aon.com (link is external). Also, please note that the excess coverage for the patent insurance can only be purchased electronically. The electronic website will be available beginning January 8, 2018.