Negligence Tops Costly Claims
Negligence leads the list of causes for the top five most expensive claims of 2023.
- A buyer’s agent was alleged to have been negligent in failing to protect the buyer from the risks of paying the deposit directly to the seller and failing to recommend legal advice. Cost: $450,000.
- A buyer’s agent was alleged to have been negligent in failing to ensure the contract included certain subject clauses. Cost: $385,000.
- A seller’s agent was alleged to have breached their duties by failing to make full disclosure and act in their client’s best interests. Cost: $237,000.
REALTYnuance© main objective is to proactively address and prevent instances of negligence like these.
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