E & O Insurance

E&O Insurance
NEW PROCEDURE:  Beginning November 22, 2017, the Kentucky Real Estate Commission (KREC) will no longer collect the Errors and Omissions (E&O) insurance premium for the KREC’s Group E&O Program.  If you wish to enroll in the KREC’s Group E&O Program, administered by Rice Insurance Services Company, LLC (RISC), you may now CLICK HERE to enroll through RISC’s website.  https://enroll2.risceo.com/policies/kydirect
There is a $10 E&O processing fee per licensee collected by the KREC when they confirm your coverage in the KREC’s Group Program.  Contact RISC directly at 502-897-1876 if you have questions about enrollment or the Group Program.
All active Kentucky real estate licensees or applicants for an active license must obtain their E&O coverage directly from an insurance carrier prior to activating and/or renewing a license.  E&O coverage can be obtained through the KREC’s Group Program or from a private carrier of your choice, as long as the coverage meets the minimum requirements set forth in 201 KAR 11:220.
If a licensee has a private carrier policy, they must provide KREC with form 203 , Private Carrier Certification of Coverage and the Certificate of Liability Insurance page, as proof of E&O coverage when activating, transferring, or applying for an active license.  This form outlines the minimum requirements and must be signed by an authorized insurance representative.  There is a $10 E&O processing fee per licensee which must be included with the form 203