Real estate related classes of business account for a large share of all professional liability insurance business written, and that number is probably going up (or down?) as the credit crisis impacts both the number of survivors and professional liability insurance rating. A recent Rough Notes article (see here), prepared by MarketStance, claims that 64% of all E&O premium is real estate related. While that number sounds high, the definition of real estate used includes a wide range of classes not normally associated directly with real estate. Some of the classes included are:
The article notes that the group includes 17 NAICS classes, 3.4 million businesses and sales of $1.45 billion.
Brought to you by Tennant Risk Services.
Specialty Insurance Expertise: Tennant Risk Services
Content © Tennant Risk Services Insurance Agency, LLC, 2005 - 2017 | All Rights Reserved.