Most generic real estate E&O leaves New York property managers exposed. PBI Group writes a PM-specific endorsement that responds to failure-to-maintain, habitability, rent collection disputes, and mismanaged deposit claims under New York Department of State, Division of Licensing Services.
New York property managers operate under New York Department of State, Division of Licensing Services rules. Trust account compliance, habitability, and tenant disputes are the most-cited claim categories. Generic agent-side E&O policies aren't built for these — PM-specific endorsements vary widely between carriers.
PBI Group's PM endorsement responds to the five common claim categories New York property managers actually face:
Property managers in New York operate under New York Department of State, Division of Licensing Services. Trust account compliance is typically the most-audited area; our policy form responds to defense costs and regulatory representation in those proceedings, including the deposition phase that pure agent E&O often excludes.
Most generic real estate E&O policies are written for the agent-side activity (listings, sales, dual agency). Property management exposures don't fit that mold. PBI Group's PM endorsement extends the policy form to:
PM premium typically scales with door count, not headcount. We segment by units under management and mix of single-family vs. multi-family. New York firms operating between 100–500 doors fit the strongest premium tier under our program.
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