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Real Estate Appraisers
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New in 2008! Intercorp’s Special Purpose Program for Stressed Accounts
Real Estate Appraisers who are having difficulty finding E&O coverage, or who don’t qualify
for standard program rates because of disciplinary actions or claim issues, can apply for
coverage through Intercorp’s Special Purpose Program.
Rates are higher, of course, but if the insured remains loss-free for three years or until
open issues have been resolved, the account can be reviewed for standard program rates.
Applicants should complete the Intercorp RE Appraiser Application,
Intercorp Supplemental Application, and
Intercorp Claim Supplement (one for each claim or disciplinary action).
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No real estate appraiser should be without Errors & Omissions insurance, especially in light of
the turmoil in the housing and mortgage industry in 2008. Often caught in the middle if warring
parties in a real estate transaction and faced with a myriad of continually evolving rules
governing how appraisals are done, the appraiser needs an errors & omissions policy that focuses
specifically on appraisal services.
Intercorp’s program features include:
- Easy-to-complete, two-page application form.
- Fast turnaround (usually same-day or next-day) on quotations and policies.
- Policy is specific to appraising, which allows the underwriting and pricing to focus on this
activity rather than a range of other real estate services.
- Coverage provided for individual appraisers and real estate appraisal firms.
- Both residential and commercial appraising is eligible for coverage.
- Full prior acts coverage available to qualified applicants.
- Policy limits from $250,000 to $2,000,000; deductibles from $1,000 to $5,000.
- Convenient payment options via credit card (Visa or Mastercard) on your quote form, or
pay by check online.
- Insuring company is rated A+XV by A.M. Best insurance rating organization.
If you have questions about coverages or terms, you may find the following articles helpful:
Document, Document, Document!
Everything You Ever Wanted
to Know About Real Estate Appraisers Errors & Omissions (But were afraid to ask!).
The ABC’s of E&O Insurance.
Help--I've Been Sued! What To Do (& Not Do) If It Happens to You
If your questions aren’t answered here, you can Contact Us with your specific inquiry, or call us
at 800-640-7601.
Additional Coverages for Appraisers:
- Business owners package (general liability, property, and related coverages.
- Business auto.
- Workers’ compensation.
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