This product targets both Individual Appraisers and Appraiser Firms.
Firms that derive at least 70% of income from residential real-estate appraisals. (less than Firms that have been in operation for 3 years or whose principal has held his or her Individuals who have held their appraisal licenses for at least 1 year. No errors and omissions claims or disciplinary actions in the past 5 years. Average value of properties appraised is less than $400,000. Less than 10% of income from FHA appraisals.
Appraiser trainees (any professional whose work needs to be approved by a licensed appraiser). Any licensed appraiser who has held his or her license less than 1 year. 1 errors or omissions claim or disciplinary action in the past 5 years. Individuals who earn more than $70,000 per year.
A++ rated carrier. Defense outside the limit. Internet Coverage Endorsement. Duty to defend. Full prior acts coverage available. Coverage can be written for an individual or for the firm. Real estate sales coverage available. General liability on occurrence basis available to $1,000,000.
For individuals, limits are available up to $1,000,000/2,000,000. For firm, limits are available up to $5,000,000. Retention's start at $0 for individuals and $2,500 for firms.
