E&O Rates Falling

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Home Inspector E&O Rates Falling
Good news! Home inspector E&O rates are going down! [FONT=Calibri]

 If your rates are going in the wrong direction or if you’ve been non-renewed after years of paying premiums to your current carrier,  it is time to 	  **shop OREP**](http://orep.org/home-inspectors-eo-insurance/).

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See for yourself how inclusive the coverage is, how competitive the rates are and all the great benefits available to help your business succeed, and the choice for your E&O/GL Insurance will be obvious.
OREP is the new leader in E&O/GL for home inspectors. If you’re not getting all this coverage or you’re paying more, call OREP today! Coverage can be placed in minutes.
**Minimum Premium: $1,250
**($300,000 aggregate limit)

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Unfortunately, this program is not available to Canadian Home Inspectors.

Best regards,

Not available in Canada!

Not available in Canada!

Ditto: Possibly not read in its entirety before posting?

I am still working on a **NATIONAL E&O policy **for ALL InterNACHI inspectors in Canada! So far, we have some VERY interested underwriters and I’ll give you some more details shortly! This takes time as it is a big job so be patient!


Bonjour Gilles, do you have any estimate as to what approximately it will cost per year?



To answer David, we’ll be getting a few proposals in the next weeks and I’ll post them. Of course, with so many inspectors in Canada, InterNACHI would have a great premium!

Stay tuned…

I’ve been working with the same underwriter Gilles has, and there is no appreciable difference in the price of E&O from Axis as there is from any other insurer.

We have a request from two interested underwriters but on every occasion, including the conversations with Axis, we hit the same roadblock. The new insurer needs to calculate the risk of underwriting.

This requires a current loss-run report from each inspector who is insured. We have asked several times to get this information from Inspectors, but apathy rules in this profession.

Unless, and until we can get solid loss-run figures to show the existing insurers are unduly profiteering from the profession, nothing in Ontario will change. The only way we are going to get a change is to put some effort in ourselves.

OntarioACHI has worked hard on getting a number of benefits for ALL Inspectors in Ontario (not just our members), result…so little uptake the programs have failed.

We are still working on the Insurance program, but without input from Insured inspectors, we are going to go around the same loop that we’ve been around for the last 5 years, and Gilles has been around form many years longer.

As for the OREP Insurance, the premiums quotes are for $300,000 aggregate. The typical E&O requirement in Ontario is $1,000,000 per claim with $1,000,000 aggregate. Even OREP cannot match the Hub cover on this level, especially with the additional endorsements Hub provides.

If we get inspectors to provide current valid information to allow us to get other underwriters interested, then we might be able to get prices down. But f inspectors continue to ignore requests for the information, then they will continue to be at the mercy of the incumbent players.

It’s that simple!