Mortgage Broker Insurance Coverage Checklist
The coverages a mortgage broker business may carry — core, prevalent, and situational — why each matters, and the gap most often missed.
Pull out your current policy and check the box next to any coverage you can confirm is already in place — anything unchecked is worth a quick conversation with your advisor. Coverage checklist for mortgage brokers and loan originators. Priorities reflect typical exposure; confirm against funding and lead sources.
Tick each coverage you can confirm you carry — anything left unticked is a good question for your next policy review.
| Have it? | Coverage | Why this business needs it | Priority |
|---|---|---|---|
| Mortgage Broker E&O | Covers borrower and lender claims over origination errors. | Core | |
| Cyber Liability | Covers breaches of client data, notification costs, and regulatory response. | Core | |
| Crime / Social Engineering | Covers closing funds diverted by spoofed wire instructions. | Core | |
| Surety Bonds | Required by state licensing. | Core | |
| Business Owners Policy / GL | Covers office premises and property. | Prevalent |
The coverage gap most often missed
The most commonly missed gap for this class is social-engineering coverage for closing funds. Wire fraud using spoofed instructions targets mortgage and closing funds, and many cyber and crime policies limit or exclude voluntary transfers. Brokers should confirm social-engineering coverage, warn borrowers early that wiring instructions never change by email, and verify every instruction by phone.
Send us the checklist and we'll review your mortgage broker coverage line by line, then market it across multiple carriers that compete for your account.
Related: Mortgage Broker Insurance · Mortgage Broker Supplemental (apply) · All coverage checklists
Frequently asked questions
What insurance does a mortgage broker business need?
The core coverages for a mortgage broker business are Mortgage Broker E&O, Cyber Liability, Crime / Social Engineering, Surety Bonds. This checklist also lists the prevalent and situational coverages worth considering, with a plain-English note on why each matters.
Is this checklist insurance advice?
No. It is a free educational tool to help you have a more informed conversation with a licensed professional. It affords no coverage and is not insurance, legal, or financial advice — only your actual policy language governs what is and isn't covered.
Can Cory Washington & Co. review my mortgage broker coverage?
Yes. Share your checklist and we'll review your program line by line, market your account across multiple carriers, and explain the trade-offs in plain English. Cory Washington & Co. LLC is licensed in all 50 states.
This checklist is a free educational tool from Cory Washington & Co. to help you review your own coverage and have a more informed conversation with a licensed insurance professional. It is general information only — not insurance, legal, or financial advice, and not a recommendation to buy, change, or cancel any policy. Coverage terms, availability, limits, and requirements vary by policy, carrier, and state, and only the language in your actual policy governs what is and isn’t covered. Checking or leaving blank any item above does not indicate that you are adequately insured or under-insured. Using this checklist does not create a client, agency, or fiduciary relationship. Always consult a licensed professional about your specific situation.