ATTACHMENT E - 2ND QUARTER 2025 - Totals - KY - RFB 758 2600000247.pdf

This document is a claims summary report for the Kentucky Real Estate Commission's (KREC) Errors & Omissions Insurance Policy for the second quarter of 2025. The report details claims activity across nine group policy numbers (0024KY through 0032KY), documenting both closed and open claims for the reporting period. The policies span multiple years, with some representing two-year coverage terms, and collectively cover a total of 1,509 claims across all policy groups.

The aggregate claims data shows total paid amounts for closed claims of $6,076,236.52 and total incurred amounts for open claims of $2,123,574.82, resulting in a combined total incurred of $8,199,811.34 across all policies. The largest claim volume appears in policy 0031KY (two-year term) with 312 total claims and $1,474,566.04 in total incurred costs, while policy 0027KY generated the second-highest incurred amount at $1,245,316.45 despite having fewer total claims. The report segregates claims into standard claims and legal claims, with legal claims representing a significant portion of the overall incurred costs, particularly in policies 0031KY and 0032KY. This summary provides critical loss history information essential for evaluating the ongoing insurance coverage needs and costs for Kentucky's real estate regulatory operations.