Dalton Wade maintains brokerage E&O insurance coverage. However, coverage is subject to the terms, conditions, exclusions, and limits of the applicable policy.
Agents are responsible for understanding their insurance obligations and following Dalton Wade's procedures for reporting potential claims.
The current Dalton Wade E&O insurance policy is available in Dotloop.
To locate it:
Log in to Dotloop.
Select Templates.
Open DW Office & Training Materials.
Locate E&O Insurance Policy.
Agents should review the current policy for coverage terms, limits, deductibles, exclusions, and carrier information.
For instructions on downloading the E&O certificate, refer to How to Access Brokerage Documents in Dotloop: W-9, E&O Certificate & Broker Licenses.
According to Dalton Wade's stated coverage information:
| Coverage Detail | Amount |
|---|---|
| Coverage Limit | $250,000 |
| Deductible — Matter resolved within one year | $5,000 |
| Deductible — Matter resolved after one year | $10,000 |
Under Dalton Wade's stated brokerage policy, the applicable E&O deductible is shared between Dalton Wade and the agent involved in the claim.
The actual deductible and any agent financial responsibility are subject to the current insurance policy, the agent's Independent Contractor Agreement (ICA), and applicable requirements.
Important: Insurance coverage, limits, and deductibles may change. The current policy and applicable ICA govern over the general information summarized in this article.
Dalton Wade's Independent Contractor Agreement outlines additional responsibilities related to E&O insurance and claims.
The Broker selects the E&O insurance carrier.
Deductible amounts may change, and agents will be notified of applicable updates.
Agents must immediately notify the Broker of any situation that could result in:
An E&O insurance claim
A client complaint or dispute
A lawsuit or legal demand
A real estate license complaint
An arbitration proceeding
Agents should report potential issues promptly, even if a formal claim has not yet been filed.
Under the applicable ICA, if a claim, lawsuit, license complaint, or arbitration demand is not fully covered by insurance:
The Broker may withhold funds from an agent's commissions to address amounts not covered by insurance, as permitted by the ICA and applicable law.
Withheld funds may be maintained in a Claims and Disputes Retention Account while the matter is pending.
The Broker may apply those funds toward resolving or satisfying an applicable claim, settlement, or award.
Agents are expected to cooperate fully with the Broker during claims, disputes, and investigations.
If legal consultation is required because of an agent's transaction, the agent may be responsible for reasonable attorney fees as provided in the ICA.
Agents licensed in Tennessee and Colorado should review their individual E&O insurance requirements.
Dalton Wade's brokerage coverage should not be assumed to satisfy an agent's individual insurance obligations in these states.
For additional information:
Tennessee: RISC – Tennessee E&O Insurance
Colorado: RISC – Colorado E&O Insurance
Agents are responsible for maintaining any individual coverage required by their state and providing proof of coverage when required.
If you become aware of an incident, complaint, dispute, or other situation that could lead to an E&O claim, notify the Broker immediately.
Send an email to:
Phil: phil@daltonwade.com
Dalton Wade Support: support@daltonwade.com
Include a brief, factual description of the situation and any relevant transaction details.
Report potential claims as soon as you become aware of them.
Preserve relevant transaction documents, communications, and records.
Cooperate with the Broker and any authorized insurance representatives.
Do not admit liability, offer a settlement, or negotiate resolution of a potential claim without appropriate direction.
Refer communications from attorneys, insurers, or investigators to the Broker for guidance.
Prompt reporting is essential. Delays in reporting a potential claim may affect the handling of the matter and could impact insurance coverage under the applicable policy.