RPS unit unveils real estate E&O program

RPS Signature Programs, the program administration division of Risk Placement Services Inc., said Thursday it has launched an errors and omissions program for real estate appraisers with General Star National Insurance Co.

The program provides E&O coverage for individual residential and commercial real estate appraisers, with available limits of up to $1 million each claim to $2 million aggregate on an admitted basis, said RPS, the excess and surplus lines broker and managing general agent unit of Rolling Meadows, Illinois-based Arthur J. Gallagher & Co.

Coverage is available in all states except Alabama, Louisiana, New York and West Virginia.

The zero deductible program has a broad definition of professional service and covers defense costs outside the limits of liability. It also provides prior acts coverage with proof of continuous coverage.

General Star National Insurance Co., also known as GenStar, provides specialty insurance via its affiliate General Star Management LLC to a select group of wholesale brokers and program administrators.

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