John, I’d be happy to.
Here’s a summary of the E&O policy available through my agency. Most of the language I took strait out of the policy. Hopefully you find this useful in deciding which policy to purchase.
The policy is called a Miscellaneous Professional Liability Policy
It is a claims made policy.
In this case, it covers the performance of home inspection services for others
Liability limits available are $1,000,000, $500,000 and $250,000 for each claim and aggregate.
$5000 each claim and aggregate limit is provided for Disciplinary Proceeding Claims Expenses
Deductible of $2500 applies to $250K and $500K Policy Limit and $5000 deductible for the $1MM Limit
Retroactive Date applies to inspections done in preceding policy years when continuous coverage is maintained.
The policy covers the named insured business, it’s employees and independent contractors who are natural persons, but only with respect to Professional Services performed on behalf of the named insured.
The policy provides liability coverage on behalf of the insured in excess of the deductible that the insured shall become legally obligated to pay as damages and claims expenses because of a claim first made against the insured and reported to the company during the policy period by reason of a wrongful act committed on or subsequent to the retroactive date and before the end of the policy period.
Wrongful act means any actual or alleged negligent act, error, omission, misstatement, misleading statement or personal injury offense committed by the insured or by any other person or entity for whom the insured is legally liable in the performance of the or failure to perform professional services.
The insurance company will not be liable for damages or claims expenses on account of any claim attributable to any dishonest, fraudulent, criminal or malicious act or omission, or any intentional or knowing violation of the law by an insured.
Referring Realtor liability is not included.
Prices are very competitive.
Sample contracts are provided with all quotes.
Inspectors outside of Texas are welcome to call for assistance locating an agent in their state.
1333 McDermott Dr.,
Suite 200 Allen, TX 75013
Ph 214.547.7222 Fax 214.547.0061
Does your auto policy provide Accident Forgiveness; $100 Collision Deductible Awards; Safe Driving Bonuses; and New Car Replacement Coverage? ------ Mine Does – Ask me how to add it to your policy.