The collapse of the housing market and subsequent foreclosure crisis have led to an increase in litigation, causing people throughout the legal, financial and real estate industries to take a closer look at errors and omissions insurance. Highlighting that trend, a recent article in The Legal Description discussed the importance of E&O insurance in the title industry. “Poorly conducted title searches along with ill-conceived mortgage products and the resulting ‘robo-signing’ claims and foreclosure debacle, focused closer attention on all real estate transactions,” author Andrea Golby wrote. The article offered the following tips for those considering E&O coverage: Find an agent that specializes in the type of coverage for your industry. The NNA’s E&O site provides specifics for Notaries. When purchasing a policy, be sure to obtain the proper amount of coverage for the type of acts you perform. For example, NSAs handling high value real estate closings may want to carry a larger policy. Carefully consider the amount of deductible when applying for coverage. (NNA policies do not have a deductible.) Understand the extent of the policy and what it provides. E&O insurance covers negligent acts only — not those that are deliberate or fraudulent. If your employer carries E&O insurance, understand the limits. It may not cover you for notarizations you perform outside of work hours or for non-work clients. The cover story in the November issue of The National Notary details information about E&O coverage for Notaries — why it is needed, how it differs from a surety bond, how to determine how much to carry, and where to purchase it.