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As the market for real estate agents has continued to change, one of the results has been an increase in the frequency and severity of claims made against them.

“In the past, E&O coverage for seed dealers has been very cost-prohibitive,” says independent agent Shelly Turner. “Educating both clients and other agents on the availability of a lower cost, higher coverage option is a big focus.”

The agency errors & omissions environment has become more complicated, and the result has led to several implications for independent agencies.

Agency errors & omissions coverage has been impacted by the hard market, with premiums increasing over the past few years, and difficulty in replacing waves of retirees with younger workers.