One Charlotte Realty E&O Insurance Policy
Agent Compliance & License Status
At One Charlotte Realty, maintaining the highest level of professionalism and protecting both our clients and agents is a core priority. All affiliated agents are required to participate in and remain covered under the brokerage’s Errors & Omissions (E&O) insurance program.
E&O Insurance Coverage
All agents of One Charlotte Realty are covered under the brokerage’s master Errors & Omissions insurance policy, which provides $1,000,000 in coverage per claim.
This coverage is designed to protect against claims of negligence, errors, or omissions that may arise during real estate transactions.
- Clients and consumers
- Real estate agents
- The brokerage as a whole
Brokerage Requirement
To remain in active status with One Charlotte Realty, all agents must:
- Participate in the brokerage’s E&O insurance program
- Maintain current and active premium payments
- Remain in full compliance with brokerage policies
Delinquent E&O Insurance Policy
Agents who become delinquent in their E&O insurance premiums will be subject to the following actions:
1. Immediate Suspension
The agent will be placed on inactive status and may not conduct any real estate activity under One Charlotte Realty.
2. Removal from Brokerage Roster
If the delinquency is not resolved, the agent’s license will be removed from the One Charlotte Realty roster with the North Carolina Real Estate Commission (NCREC).
3. Termination of Affiliation
Continued non-compliance may result in termination of the agent’s independent contractor agreement with the brokerage.
Why This Policy Matters
Real estate transactions involve significant legal and financial responsibility. Maintaining continuous E&O coverage ensures protection for agents, clients, and the brokerage.
Lapsed coverage creates unnecessary risk and is not permitted under brokerage policy.
Reinstatement Policy
Agents removed due to delinquent E&O premiums may be considered for reinstatement upon:
- Payment of all outstanding premiums
- Approval by the Broker-in-Charge
Reinstatement is not guaranteed and is subject to review.
Stay Compliant
To avoid interruptions to your business:
- Ensure E&O premiums are paid on time
- Monitor renewal and billing notices
- Address compliance issues immediately
Contact
For questions regarding your compliance status, insurance premiums, or reinstatement requests: