Commonwealth Of Kentucky - Office Of The Controller- KY
KREC Errors & Omissions Insurance Policy
Bid Close Date:
Lot 1: VENDORS SHALL BID BY SUBMITTING ONE PRICE THAT INCLUDES THE MANDATORY SIX ( 6) COVERAGES LISTED BELOW ( FOR ADDITIONAL INFORMATION SEE ATTACHMENT A TERMS AND CONDITIONS. ) DO NOT BREAK OUT A UNIT COST FOR ANY SPECIFIC COVERAGE. NOTE: There will not be points awarded for additional coverage, which is in addition to the minimum coverage requirements. PRIMARY RESIDENCE COVERAGE - Provides coverage for sale or listing of Licensee' s primary residence through insured' s broker. ENVIRONMENTAL COVERAGE - Provides minimum coverage of $ 5, 000 per claim, $ 10, 000 aggregate coverage for environmental claims including molds, spores, and fungi. FAIR HOUSING COVERAGE - Provides minimum coverage of $ 10, 000 per claim, $ 10, 000 aggregate coverage for fair housing discrimination claims. ESCROW ACCOUNT/EARNEST MONEY COVERAGE - Provides minimum coverage of $ 2, 500 per claim, $ 5, 000 aggregate coverage for claims concerning escrow/earnest money accounts. FRANCHISE GRANTOR COVERAGE - Provides for coverage for Real Estate Group as Franchise Grantors. REGULATORY COVERAGE - Provides minimum coverage of $ 2, 500 per claim, $ 5, 000 aggregate coverage for regulatory complaints.
