Provides coverage for an appraiser or appraisal firm against claims alleging
negligence in the development of an appraisal for the claimant. The policies
are written on a claims-made basis and cover economic losses resulting from
errors in the appraisal process (e.g., an appraiser overestimated the value
of a building causing the owner to pay an inflated amount of property tax).
Such coverage is also sometimes contained within real estate brokers errors
and omissions policies.
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