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DocuSign Envelope ID:4BD3AF05-8D53-4AE5-83F5-70D042544F7F <br /> CNA REAL ESTATE PROFESSIONALS ERRORS <br /> AND OMISSIONS POLICY <br /> THIS INSURANCE IS WRITTEN ON A CLAIMS-MADE BASIS AND ONLY APPLIES TO THOSE CLAIMS <br /> FIRST MADE AGAINST INSUREDS WHILE THIS POLICY IS IN FORCE. NO COVERAGE EXISTS FOR <br /> CLAIMS FIRST MADE AGAINST INSUREDS BEFORE THE BEGINNING OR AFTER THE END OF THE <br /> POLICY PERIOD UNLESS, AND TO THE EXTENT, AN EXTENDED REPORTING PERIOD APPLIES. PLEASE <br /> REVIEW THE POLICY CAREFULLY AND DISCUSS THIS COVERAGE WITH YOUR INSURANCE AGENT OR <br /> BROKER. <br /> Throughout this Policy, the terms "we", "us" and "our" refer to the Insurance Company listed on the Declarations <br /> as providing this Insurance. Other words and phrases that appear in bold have the meaning set forth in Section V. <br /> DEFINITIONS. Refer to Section V. DEFINITIONS. <br /> I. INSURING AGREEMENT <br /> A. Indemnity <br /> We will pay all amounts in excess of the deductible and within the limits of liability applicable to this Policy, <br /> that the Insured becomes legally obligated to pay as damages as a result of a claim by reason of an act or <br /> omission in the rendering of professional real estate services by the Insured, or by any person for whom <br /> the Insured is legally liable, provided that: <br /> 1. such act or omission in the rendering of professional real estate services took place on or after the <br /> Prior Acts Date set forth on the Declarations; and <br /> 2. on the First Coverage Date shown on the Declarations, no Insured knew or could reasonably have <br /> expected that such act or omission, or related acts or omissions, would result in a claim. <br /> A claim must be first made during the policy period and must be promptly reported to us in accordance with <br /> Section VII. CONDITIONS, Paragraph B. Notice of claims and potential claims. <br /> B. Defense <br /> We shall have the right and duty to defend a claim even if any of the allegations of the claim are groundless, <br /> false or fraudulent. We shall have the right to appoint counsel and to make such investigation, settlement and <br /> defense of a claim as is deemed necessary by us. If a claim is submitted to arbitration or mediation, we shall <br /> be entitled to exercise all of the Insured's rights in the choice of arbitrators or mediators and in the conduct of <br /> an arbitration or mediation proceeding. <br /> We shall not settle a claim without the Insured's consent. If the Insured refuses to consent to a settlement or <br /> compromise recommended by us and acceptable to the claimant, then our limit of liability shall be reduced to <br /> the amount for which the claim could have been settled plus claim expenses incurred up to the time we <br /> made our recommendation, which amount shall not exceed the remainder of the limit of liability specified in <br /> Section III. LIMITS OF LIABILITY/DEDUCTIBLE, Paragraph B. Limit of Liablity—each claim. <br /> We are not obligated to investigate, defend, pay or settle, or continue to investigate, defend, pay or settle a <br /> claim after the applicable limit of our liability has been exhausted by payment of damages. In such case, we <br /> shall have the right to withdraw from the further investigation, defense, or settlement of such claim. <br /> II. SUPPLEMENTARY PAYMENTS <br /> Payments made under this section are not subject to the deductible and are in addition to the limit of liability <br /> shown on the Declarations. <br /> CNA65781 XX ED. 05-2012 Page 1 <br />