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appraisers errors and omissions

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.


Links for IRMI Online Subscribers Only: PLI XIX.C

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