Errors and Omissions (E&O) Insurance
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 applying, activating, or renewing a license. E&O coverage can be obtained through the KREC’s Group Program or from the private carrier of your choice, as long as the coverage meets the minimum requirements set forth in 201 KAR 11:220.
NOTE: Licensees must pay a $10 processing fee when updating their insurance information with KREC. This can be completed on the licensee's eServices account.
If you wish to enroll in the KREC’s Group E&O Program, administered by Rice Insurance Services Company, LLC (RISC), enroll through RISC’s website. Contact RISC directly at (502) 897-1876 if you have questions about the group program.
RISC Kentucky Policy Enrollment
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 FORM 203.
Minimum Insurance Requirements: (201 KAR 11:220)
- Limit of liability of at least $100,000
- Annual aggregate of at least $1,000,000 (firm policies with 41+ affiliated licensees must have an annual aggregate of at least $2,000,000)
- Deductible not to exceed $2,500
Additional information on E&O Insurance and Prior Acts Coverage
Extended Reporting Period (ERP) Policy
All licensees who wish to place their license in inactive status must first obtain ERP, pursuant to KRS 324.395(1). The ERP policy must be for a minimum of one (1) year at the minimum requirements established in 201 KAR 11:220.
Licensees enrolled in KREC's Group E&O Program through RISC may purchase ERP from RISC. Licensees using private carriers should contact their current E&O provider to inquire about purchasing an ERP policy.