A few weeks ago I developed a ‘position statement’ to describe how Texas iNACHI members collectively viewed the proposed TREC SOP Commentary. It was seemingly well received by TREC staff and the commissioners. I plan to develop a similar position statement regarding the E&O insurance requirement that was imposed upon us by two members of the last legislature (they are not running for re-election next year). So, I would like to solicit your input on developing that E&O Position Statement and ask that you post or send me some brief bullet points that I can use to begin writing the statement. Again, bullet points…not a dissertation is what I need right now. I’m starting with the following:
- E&O requirement was added, by a state representative, onto a critical Senate Bill in the waning hours of the last legislative session.
- Unknown as to who or what prompted the addition.
- Gov. Perry expressed concern about the requirement but signed the bill into law. Suggested the next legislative session should review the requirement.
- Inspectors are the only Texas business licensee required to have E&O.
- The TREC Inspectors Recovery Fund functioned well since the early 90’s to address valid consumer complaints.
- E&O premiums place an onerous and unnecessary burden on inspectors in these economic times (OK, admittedly, that one probably won’t hold water and will not be used).
- E&O insurance may very well be a good thing for an inspector to have but it should be a business decision, not a government mandate. (I intend for this to be the crux of the matter).
Add, modify, delete, or comments would be appreciated. I’ll post what I have here for review and comment when I have a first draft.