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Help With E & O Insurance

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hal380

Senior Member
Joined
Apr 26, 2003
Professional Status
Certified General Appraiser
State
Connecticut
Hello All;

A close friend and business associate has a problem and has asked me to see if I could help.

FOR BACKGROUND
He has had 5 complaints lodged against him with our state appraisal board.

These complaints were all lodged by the same person acting in his official capacity as a city official. (politically motivated)

There have been hearings on 3 of the complaints to date. In each case the commission found no basis for the complaint and no action was recommended.

Hearings on the two remaining complaints have yet to take place, but it is expected by my friend that the outcome will be similar.

There has been no claims made against his E&O insurance from any of these claims.

His carrier has cited the two remaining complaints as a basis for not renewing his policy.

So here is the help I need. Can anyone recommend E & O carriers whom he could contact with this kind of recent problems, or any other recommendations.

To answer the obvious question I GUARANTEE it is not me of whom I speak.

Any help would be appreciated.

Hal
 

Patrick Egger

Sophomore Member
Joined
May 29, 2003
Professional Status
Certified General Appraiser
State
Nevada
Hal ...

If the complaints were politically motivated and found to be without foundation, it would seem to me that the appraiser has a legal course of action against the person making the complaint
The person filing the complaints has apparently negatively impacted the appraiser, causing his E&O to be dropped. I would think that the appraiser could file suit to recover damages.

It may not get him reinstated with the present E&O carrier, but could make up the increased premiums he's likely to face with a new carrier and cause the person making the complaints to cease. Not exactly help with question, but would like to see the appraiser take action to stop such harrassment.

If the appraiser is successful (the court finds in his favor) he now has a basis for reinstatement with the E&O carrier.
 

Elliott

Elite Member
Joined
Apr 23, 2002
Professional Status
Certified General Appraiser
State
Oregon
Hal,

I have a couple of thoughts. I knew an appraiser who
was denied E&O because of a false acquisation and then
a lawsuit. There are alternate companies listed in the
real estate magazines. The same appraiser currently
doesn't carry E&O and so far it hasn't been a significant
problem. He simply indicates when asked about E&O,
he doesn't carry E&O.

I've had my fair share of complaints and I've always communicate
well with my E&O company and never been dropped. So I think its
important to keep the lines of communication open.

I cannot blame an E&O company for their underwriting policies,
even if they seem unfair. If I were an home insurance company
and the fire department had been called 5 times to a house and
there was never a serious fire, its still prudent to drop coverage.

elliott
 

Mike Garrett RAA

Elite Member
Gold Supporting Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
Wonder why they won't write him and exclude those appraisals?

Might give a call to Liability Administrators in California.
 

hal380

Senior Member
Joined
Apr 26, 2003
Professional Status
Certified General Appraiser
State
Connecticut
Thanks for the replies. My friend wants to clear up all complaints and then will take the action he has been laying the ground work on. Again thanks guys.

Hal
 
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