E&O insurance covers “negligence”. What happens if the claim results from fraudulent activities?
Fraudulent or dishonest acts are excluded. However, if such allegations are proven false, then the Insurance Program will pay for defense costs. Further, a lawsuit could name a salesperson and the real estate broker for whom the salesperson works. If the broker was neither the author nor the accomplice of the fraudulent or dishonest act, the Insurance Program would cover the broker.
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