E & O Insurance

[Doug in NC]

I've got a company requesting that I up my E&O to at least 500k. Not gonna happen unless we can work out some mutually beneficial agreement.

 

[Terrel L. Shields]

You have to buy E & O only because you cannot afford real insurance...a hit man.

Remember Roger Wheeler? He liked to make money suing people. Bell Telephone, every oil company that had a well on his ranch, etc. Got into S. Florida Jai Alai gaming biz and decided to sue some people. They happened to be mobsters who didn't sue each other, they kill 'em...As the hitman said when the lawyer asked him if Wheeler seemed surprised...."no. It happened too fast"

 

[Terrel L. Shields]

BTW, if you are commercial the cheapo insurance Landy sells is not for you. They don't cover appraisers who do commercial property. Ironic to me since I suspect more residential properties result in claims than commercial ones.

 

[Jim Kliegl]

Beware! My renewal comes next month with a $300 fee increase. I will not pay that much and waiting for a quote from State Farm.

Just got the same increase for my renewal this month :-( Is this CA specific? Seems that other companies that I've checked out online aren't offering "prior acts" coverage in CA, also (can you blame them?). Yippee.....another increased operating cost.

 

[george123]

You can go directly to www.Landy.com to the Real Estate Appraiser page and get either apply online or download an application for completion. We write more than $17,000 Real Estate Appraisers across the country through General Star.

If you want to tell me where you are located and whether you do residential or commercial appraisals I can give you an idea on price.

I would like to know how much would insurance cost me in New Mexico, for residential only? my email is george.vazquez01@comcast. or just post it on this forum. thank you

 

[JC California]

Mr. Woodruff - OREP is a a broker who publishes a magazine and also writes E & O Insurance. I am from the Herbert H Landy Insurance Agency nd we are the National Administrator for the General Star Real Estate Appraiser E & O Program. You can access the General Star program directly with us or choose any broker you want. Some charge fees, others do not. OREP does charge the $50.00 fee. General Star is owned by Warren Buffett and is a Berkshire Hathaway Company. It is rated the highest financial stable rating offered.

Let me know if you have any other questions.

Betsy Magnuson

Betsy,

I received a renewal notice from OREP. There is a note at the bottom of the cover letter:

Note: You may have received a letter/application directly from Program Manager (Landy). To ensure a seamless renewal, please complete the attached OREP application and OREP Payment Page and fax or mail with payment made to OREP.

I thought my E & O started with Landy, but I am not sure now.

Will I save $50 dollars if I renew directly with Landy?

 

[Jim Kliegl]

How much did yours go up this year JC, if you don't mind me asking? My quote went up $275 this year directly w/ OREP, who I also have my health insurance with. Ah, love living in Cali.