By Peter C When it comes to E&O insurance, all appraisers should take the time to understand the concepts of “claims made” and “prior acts” coverage in their policies.
Let’s start with this basic fact — all E&O insurance sold to appraisers and similar professions is “claims made” insurance coverage. To understand how claims made coverage works, let’s consider the following simple claim situation: an
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Written by : Peter Christensen
Peter Christensen is an attorney. He’s a member of the California, Washington, and Montana state bars. His law practice is dedicated to valuation issues. He’s the author of Risk Management for Real Estate Appraisers and Appraisal Firms, published by the Appraisal Institute. He has taught hundreds of appraiser legal and liability prevention seminars around the country.