planetRE Announces E&O Insurance Discount for Real Estate Brokers

City: San Jose, CA,

Date : Oct 08, 2007

Large financial benefit for planetRE brokers with reduction of E&O Insurance Premium and/or reduction of standard deductibles.


planetRE, a leading provider of transaction management platform to national real estate brokers, has announced a special program working with E-Risk Services and CAL Insurance for Real Estate Agents and Brokers Omissions. In recognition of qualified brokers who are licensing the planetRE Transact™ platform, and the reduced risk provided by its unique auditing and risk management features for Real Estate Agents, there will be a discount of 10% off the premium and/or reduction of the standard deductibles.


The coverage for brokers will include key benefits like broad definition of Professional Services; ability to add multiple services (e.g. real estate agent, property manager, title agent etc.); coverage for both residential and commercial properties; automatic coverage for independent contractors; M&A clause and several others. Coverage is available in all 50 states. The insurance will be underwritten by reputed national insurance companies with top ratings.


“This is a phenomenal deal for brokers of all sizes nationwide”, said Subrao Shenoy, CEO of planetRE. “Over past 2 years, planetRE lead the industry with innovative compliance, risk management and auditing functions for large brokers. Now in addition to using industry’s most powerful Web 2.0 platform that integrates MLS, transaction and financial management with one seamless access; brokers will also benefit from real dollar savings with E&O insurance premiums and deductibles”.


“We are excited about partnering with planetRE to offer a comprehensive errors and omissions product for real estate agents and brokers”, said Neil Kransdorf , senior vice president of E-Risk Services which manages the underwriting process.


“CAL Insurance is proud to partner with planetRE and E-Risk Services to bring a product to Real Estate Agents and Brokers that is cost effective and will reduce their potential exposures to Errors and Omissions claims" said Scott Hauge President of CAL Insurance.” Risk management is what insurance is all about and planetRE provides a service that reduces risk and thus the cost of Real Estate Broker and Agents’ Errors and Omissions”.


About planetRE
TrSoft (d.b.a. planetRE) is a privately held, leading edge internet company for online real estate with no affiliations or ownership from any real estate, mortgage, or title company. Headquartered in Silicon Valley, CA; its primary mission is to provide cutting edge products to the global real estate industry. With its significant investment in Research and Development, it has provided numerous innovations to its customers. planetRE is licensed by large national real estate companies. More information about planetRE can be found on the Internet at www.planetre.com.


About E Risk Services
E Risk Services has developed comprehensive insurance solutions and products that offer the versatility, simplicity and security today’s businesses are seeking. They provide management liability insurance for private company clients through their Business and Management (BAM) Package product, including directors and officers (D&O) insurance as well as employment practices liability (EPL) insurance, fiduciary liability insurance, crime insurance, professional liability insurance and cyber liability insurance. For more information about E Risk Services, visit their website at www.eriskservices.com.


About CAL Insurance
CAL Insurance & Associates has been in business since 1927. An independent agent and broker CAL takes the time to provide risk management services and tailors coverage to meet the needs of their clients at the best possible price. Every member of the CAL team is dedicated to providing matchless service. CAL's motto is "Always Looking Out For You" and they take the extra step to prove this every day. For more information visit the website at www.cal-insure.com.

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