• The deductible amount may change yearly, and agents will be notified of any updates.

• Agents must immediately notify the Broker of any situation that could lead to a claim, complaint, or dispute.

• If a claim, lawsuit, license complaint, or arbitration demand occurs that is not fully covered by insurance, the Broker may withhold funds from the agent’s commissions to cover the amount not insured. These funds are held in a Claims and Disputes Retention Account until the matter is resolved.

• The Broker may use those withheld funds to settle or satisfy any claim or award.

• Agents are expected to fully cooperate with the Broker during any claim or investigation process.

• If legal consultation is required due to one of the agent’s transactions, the agent may be responsible for reimbursing the Broker for reasonable attorney fees related to that matter.

Additional Requirement for Tennessee Agents

Tennessee agents are required by the Tennessee Real Estate Commission (TREC) to maintain their own individual E&O insurance policy, in addition to the coverage provided by Dalton Wade’s company policy.

• This means each Tennessee agent must hold a separate active E&O policy under their name.

• Proof of individual coverage must be maintained in accordance with state licensing requirements.

• The company’s E&O policy does not replace or satisfy this state requirement.

Agents should contact their preferred insurance provider or visit the Tennessee Real Estate Commission’s website for guidance on acceptable carriers and coverage verification.

Reporting a Potential Claim

If you believe an incident or issue could lead to a potential E&O claim, notify the Broker immediately.
You can email phil@daltonwade.com and support@daltonwade.com with a brief description of the situation.

Do not attempt to resolve or communicate directly with opposing parties, attorneys, or investigators without direction from the Broker or insurance carrier.