Retiring

[BNICK]

I am retiring , E& O Insurance is engaged and letter sent to me to acknowledge retirement ,MLS/MRED is engaged date sent for termination date ,what do I need to do with the State of Illinois?
New to me
Thanks

 

[Mike Kennedy]

Don't renew

 

[Elliott]

Congratulations. Enjoy your retirement. What kind of a deal did you make with your E/O on 'tail coverage?'

 

[glenn walker]

Make sure you purchase a Tails End on your E & O policy -Remember you have no coverage the day your policy expires, unfortunately many appraisers believe there policy is retrospective but it's not unless it's current and paid for. The Tails-End Policy will normally extend you out another 3 to 5 years so you don't wake up one morning with a Subpoena from a report that you did back 5 years ago .

 

[Eli]

Send a bunch of “Dear John” emails . If it’s somebody you are really glad to say goodbye to, hand write it. Lol

 

[RCA]

With a number of policies, once you get a certain age and have a continuous history of at least 5 years with the insurance company, you will have life coverage - for past work of course.

 

[BNICK]

Congratulations. Enjoy your retirement. What kind of a deal did you make with your E/O on 'tail coverage?'

The E& O carriere was advised of my retiring and they provided me , since I was a customer for over 20 years I was given an unlimited extended reporting period for no cost.

 

[Tim The Enchanter]

The E& O carriere was advised of my retiring and they provided me , since I was a customer for over 20 years I was given an unlimited extended reporting period for no cost.

That was nice of them. Hopefully for you and them, it costs them nothing.

 

[DTB]

I am past all those statutes of limitations and possible actions but still wonder, if John Doe, appraiser is the one who takes the heat because he signed the report doesn't the heat go away when John Doe is now just John Doe. John Doe the appraiser no longer exists.

 

[Lee Lansford]

I am retiring , E& O Insurance is engaged and letter sent to me to acknowledge retirement ,MLS/MRED is engaged date sent for termination date ,what do I need to do with the State of Illinois?
New to me
Thanks

The state does not know if you are using your license or not and there is no provision for forfeiture or return of your license.