E&O Complete coverage enhancement for policyholders.
Dear E&O Complete policyholder,
During these difficult times, we know that you are facing more challenges than ever before. FCT is committed to helping you in any way we can–this includes looking for new coverages that address specific hurdles caused by the novel coronavirus pandemic.
Accordingly, FCT is pleased to announce an enhancement to the coverage for E&O Complete Policyholders. Beginning May 1, 2020, FCT will apply an expanded interpretation of what constitutes a Qualifying Real Estate Transaction for the purpose of claims made under Section 1(a) of the E&O Complete Policy, to include purchase, sale and refinancing transactions that do not close.
This means that you now benefit from the same reimbursement protection for deductibles and claims history levy surcharges under your mandated errors and omissions insurance on all your transactions, even if they fall through prior to completion.
For more information on this enhancement, please contact your FCT Business Development Manager, or call 1.866.804.3122.
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