E/O insurance for Mold testing only...No Remediation..need feedback

dnasser · May 11, 2011, 4:14am

The company that provides me with Home Inspector E/O says
that they provide E/O for Mold Remediation not testing. The
Home Inspector E/O representative says that the lab is responsible
for the Mold results.

Is there an E/O for mold testing only? I just got IAC certified and Im
looking for information.

David

jhagarty · May 11, 2011, 4:19am

you are kidding …
right?

dnasser · May 11, 2011, 5:10am

No very serious…I need some truthful info.

douglas · May 17, 2011, 11:35am

This may be helpful

[FONT=sans-serif]The real difference is in the coverage. There are many “new” policies on the market, as we expected there to be once the Florida law passed. I have not looked at all of these policies but do know that all reputable carriers that have experience writing environmental consultants and contractors have a minimum premium of $2500. It goes up from there based on risk and revenue.

A few of the policies I have seen on the market are flat rate policies, meaning every company pays the same amount. This is likely what you are being presented if they are phone quoting you. These policies are usually not very good. You have to ask why would a carrier charge the same to a company that does $50,000 a year as a company that does $500,000 a year. Just by pure work volume the carriers assumes more risk with the larger company. The reason they would charge the same is that there is no coverage in the policy, so the carrier is not worried about paying a claim.

Things to ask when getting quotes, does the quote include:

Broad Form General Liability Coverage

Broad From Professional Liability (E&O)

Microbial Consulting Coverage

Blanket CG 20 10 Additional Insured Endorsement

Blanket CG 20 37 Additional Insured Endorsement

Primary Non Contributory Wording

Waiver of Subrogation

Completed Operations Coverage
I have attached a article written about a Lloyds policy that was pulled from the market a couple of years back, but is now being promoted again since insurance is required. This is written by independent counsel.

Should you have any additional questions, please feel free to give me a call.

Regards,

Brian Mcfarland
Legends Environmental Insurance
39927 N Long Landing Ct
Anthem, AZ 85086
800-992-6999 ext 164
602-770-7432 (cell)
602-798-7695 (fax)
[/FONT]

clambert2 · May 17, 2011, 1:54pm

Just stick to inspecting homes. Leave the mold alone.