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Real Estate Appraisers

Real Estate Appraisers

Program Target Description: Appraisal Management Company Professional Liability Program 

Program Target:  

  • 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.

Submission Requirements:

  • 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.

Broker Requirements:

  • Program administrator producer form.
  • Licenses in jurisdictions where broker operates.
  • Proof of errors and omissions insurance (minimum limit $1,000,000)