E & O Insurance

[Tom4value]

If someone is going to sue you. Them having a copy of your E & O is the last thing I would worry about.

And the first thing they will obtain, anyway!

 

[Functional Obs]

A lender and or the AMC wants My E & O in the report, for years I have been told not to include the E & O, as long as it is on file with the AMC.
Seems like including it would give the homeowner a reason to file an unnecessary claim when the value does not meet their needs. AMC is refusing to pay unless I include it. Any thoughts, comments?

Put it in the report, get paid, then refuse all future work. That's your easiest path forward. If you have a lot of time and want to go the principle route, there are a lot of other options you can take. You could ask to speak to a manager, file a complaint, file a civil suit, etc., etc. I'd just give them what they want though. You can always trash them later (blog, Good/Bad/Ugly forum, etc.)...

I too never put my E&O in the report. There was an article in one of the trade magazines (I forget which one) advising against doing that a while back.

 

[jay trotta]

What does it accomplish by not providing it? The client/AMC will have a copy on file anyway - from when you initially signed up/renewed your policy.

Only thing I see is it offers them the opportunity to "Bully" appraisers, which is totally stupid and unnecessary, as they have your policy on file (required by the Fed).

 

[Pam Weed]

I politely tell them I do not include E & O in any report for any reason. If it is unacceptable, please let me know before I contact owner or agent. I've never had a problem.