Notice Regarding 2023 Policy Term
To Colorado Licensees
RE: Colorado Real Estate E & O Coverage - Zurich Non-Renewal Notices Effective January 1, 2023
We regret to inform you that Williams Underwriting Group a Division of AssuredPartners NL, LLC has been advised by the insurance company, Zurich American Insurance Company, that they are exiting this line of E & O business in Colorado effective January 1, 2023. To comply with Colorado insurance regulations, you will be receiving a non-renewal notice from Zurich shortly.
Zurich will continue to handle all claims that have been reported to them until all claims are closed. If you are aware or become aware of any circumstances that may lead to a claim you need to complete a Claim Notice form to report the situation to Zurich prior to December 31, 2022. Please use the Claim Form or our website or call us and we will email the form to you.
Great News - We are diligently working with another insurance carrier to finalize a new Independent Real Estate E & O program to be effective January 1, 2023. We will be in contact with you regarding the new program details.
Your expiring policy with Zurich is written on a claims-made basis. If you elect to retire, place your license on an inactive status or not purchase replacement coverage which provides "prior acts coverage" you should consider purchasing an Extended Reporting Period or Tail endorsement. This endorsement would protect you for covered claims (subject to policy terms and conditions) that may be reported in the future for your past real estate transactions.
Please contact us at 800-222-4035 or wug@wugieo.com for any questions you may have.
Regards
Williams Underwriting Group a Division of AssuredPartners NL, LLC
