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E & O Whack my A -(hem)

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Ray Miller

Thread Starter
Elite Member
Joined
Feb 20, 2002
Professional Status
Licensed Appraiser
State
Wisconsin
So much for fairness in the E & O Industry. My carrier whack my insurance policy and increase the fees over the last five years. My claim cost less then I have paid them. I won my case and yet I am now considered sub-standard and a high risk.

So much for being honest about reporting lawsuits.
 

JTip

Elite Member
Joined
Oct 12, 2004
Professional Status
Certified Residential Appraiser
State
Pennsylvania
Ahhh, don't sweat it Ray, it will be on your ChoicePoint report for only another 10 years....
The commercial market is really soft these days, shop around.
 

Tom Foster

Senior Member
Joined
Apr 18, 2003
Professional Status
Certified Residential Appraiser
State
California
What is the yearly amount that you paying now ?
 

Ray Miller

Thread Starter
Elite Member
Joined
Feb 20, 2002
Professional Status
Licensed Appraiser
State
Wisconsin
Ahhh, don't sweat it Ray, it will be on your ChoicePoint report for only another 10 years....
The commercial market is really soft these days, shop around.


Already replaced it at a lower rate then I was paying the last six years I had them
 

Vegan702

Senior Member
Joined
Feb 24, 2005
Professional Status
Certified Residential Appraiser
State
Nevada
At least you are not like my friend who is being forced to pay $1500 a month for the lowest E&O coverage for defending himself and winning.
 

Tom Foster

Senior Member
Joined
Apr 18, 2003
Professional Status
Certified Residential Appraiser
State
California
$1,500 per month or $18,000 per year for E+O !!!!

OK, who can top that ?
 

Karl

Elite Member
Joined
Jan 15, 2002
Professional Status
Licensed Appraiser
State
Arizona
At least you are not like my friend who is being forced to pay $1500 a month for the lowest E&O coverage for defending himself and winning.

What is he a Brain or Heart Surgeon??
 

Michigan CG

Moderator
Staff member
Moderator
Joined
Nov 1, 2006
Professional Status
Certified General Appraiser
State
Michigan
What is he a Brain or Heart Surgeon??

My wife worked for a Brain Surgeon and he paid $150,000/year for malpractice insurance, and had to maintain it for 5 years after retiring in case someone sued after retirement.
 

Vegan702

Senior Member
Joined
Feb 24, 2005
Professional Status
Certified Residential Appraiser
State
Nevada
What is he a Brain or Heart Surgeon??


He is an appraiser. Was involved in a class action lawsuit in Vegas and had every charge against him dropped, but after his E&O spent over $250k defending him. They dropped him after the case was finished. No one would touch him even though he had never been in trouble with the boards, only this frivolous lawsuit. He finally found a insurance broker to cover him at the lowest coverage possible, but at $1500 a month.
 
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