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Real Estate Appraisers
Program Target Description: Appraisal Management Company Professional Liability Program
- Target Risks: Appraisal Management Companies that serve as an intermediaries between lenders and appraisers, managing the appraisal process, assuring compliance and appraisal independence.
- Geographic: All states.
Why work with our program administrator:
- More than 20 years of experience in the real estate professional liability field, with more than five years of experience serving the appraisal management company segment.
- Service! 48-hour turnaround on inquiries, quotes (assuming completed application), policy issuance.
- Service with a human touch
Coverages & Limits Available:
- Admitted or Non-Admitted: Non-Admitted
- Professional Liability – Limits from $500,000 to $2,000,000. Extension of coverage for disciplinary matters.
- Ancillary Coverages – Appraisal Management Company bonds required by the various states.
- Program specific application and claim supplement, if applicable.
- Resumes of key personnel.
- Copy of standard agreement and qualifications for panel appraisers.
- Copy of quality control procedures.
- Currently valued loss runs, if prior coverage.
- Program administrator producer form.
- Licenses in jurisdictions where broker operates.
- Proof of errors and omissions insurance (minimum limit $1,000,000)