Victor, a global managing general underwriter (MGU), has expanded its real estate errors and omissions (E&O) insurance program, introducing broader coverage options and reducing premium rates in several US states. The updated program, effective immediately for new business and from September 1 for renewals, includes enhanced definitions of insured parties and expanded coverage for cyber-related incidents, discrimination claims, and bodily injury. Additional provisions address regulatory exposures under the Telephone Consumer Protection Act (TCPA) and Dodd-Frank legislation.
Key Developments in E&O Insurance
The rate reductions vary by risk profile and market, with some policyholders experiencing decreases of more than 20%. The revised offering is currently approved in 17 states, including Florida, Illinois, and New Jersey, with further approvals expected by early 2026. Coverage is available through Victor’s digital platform, V2, which enables brokers to quote, bind, and issue policies online.
Stabilization in E&O Insurance Market
These developments occur amid broader changes in the US E&O insurance market, which has shown signs of stabilization following years of rate pressure and underwriting scrutiny. While high-risk sectors continue to face cautious underwriting and selective rate increases, capacity remains generally available. Market observers note that pricing dynamics have been influenced by increased litigation, evolving regulatory environments, and emerging exposures such as cybersecurity and reputational harm.
Market Outlook
The US professional liability market, including E&O insurance, is projected to continue expanding steadily. In 2024, the market is estimated to reach $42.8 billion in value, driven by greater awareness of liability risks and growing demand for tailored coverage across industries. Real estate professionals have faced higher claim frequencies in areas such as transaction disputes, data breaches, and duty-of-care allegations. Victor’s latest adjustments aim to reflect these shifts in the risk landscape.
“Real estate professionals are facing increased risk in their day-to-day responsibilities,” said Steven Stecker, senior vice president and Real Estate program manager at Victor US. “We felt it was time to modernize our solution, providing broader coverage options and more accessible pricing.” Brian Pierce, chief underwriting officer at Victor US, emphasized that the program aligns with the company’s focus on offering consistent insurance solutions.
Future Expectations
Industry analysts expect modest growth in E&O lines, with greater differentiation across professions and regions. Market participants anticipate further digitalization in underwriting and distribution, particularly among MGUs and specialty insurers responding to client demand for streamlined service and customized coverage.
