crichiii
(Christopher Rich III, NJ Lic#24GI00063000)
21
It covers a 36 month tail end, in case you want to retire, or move on. We renewed with Wally at International Placement Services Inc and he saved us over $850. He is very thorough and the application is lengthy but I’m willing to answer all of the questions to save $$$$. My wife has been talking with Wally, she works for the reinsurance business and is very pleased with the policy. Unlike the Elite MGA who hasn’t called her back or sent a renewal for coverage after filling out the information and speaking with Pam. Many thanks to John Bowman for his involvement.
“James River has done their due diligence regarding their entry into the HI E&O field. They are confident that if the applicants meet the stringent requirements then they will be successful in the long run. Choosing the more educated, experienced, qualified inspectors will result in fewer claims is the theory and that would seem to make sense.”
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If this program is legitimate, more power to you guys. But myself, along with other competitors called James River, we were all told the same thing: “We have no idea what your’e talking about. We don’t write E&O insurance for home inspectors.” Which makes me skeptical about the quote above.
I know Wally is the point person on this, but I’m trying to figure out who is responsible for paying the claims. James River? I doubt Wally is. They don’t make it very clear.
My call to James River just now resulted in me being immediately connected with the correct contact person who reiterated the fact that, yes, they offer HI E&O and that I would need to contact Wally Glaser for assistance.
My Professional Liability (E & O) insurance is due for renewal very soon, and I too have been working with Wally lately. Seems like a great guy and great to work with! I will be renewing with his insurance with more coverage than I currently have, while at the same time saving $1,100 compared to my current coverage.
The application process is lengthy but they are only offering this insurance to qualified inspectors who have been in the home inspection business at least 3 years.
John M, John O…OK, the discussion a couple of weeks ago centered around my assertion that a Texas HI must divulge to the client that the inspector is receiving a referral fee from Brinks when using this program. There used to be a TREC form that could be used to do that but that form has gone away. You said Brinks had “TREC approved wording” that could be used to notify the client of the referral fee. That is just not accurate…TREC has never approved any Brinks wording like the above clause. That clause does divulge the fact that you are receiving a ‘processing fee’ so it likely meets the disclosure requirement but its not an official, TREC approved statement. Doesn’t need to be though.
