Originally Posted By: jremas
This post was automatically imported from our archived forum.
I was looking at my old 2002 policy when I had Western Heritage Insurance through Tuscano Agency and Griffith Insurance. I have never renewed with them because I found much better coverage (although more expensive) that I am more comfortable with. I am alarmed at what I am reading in the old policy and I urge anyone who may still use them to have your attorney review it. Here are a few highlights that should concern us:
1) This coverage applies only in the event that damages are claimed within one year after the date of the physical inspection upon which the inspection report was furnished.
2) The liability is only $100,000. per occurence, $500,000. aggregate.
The limit of liability shown above for each occurence is the most we
will pay for "Property Damage arising out of inspections.
3) Although the word E&O is used in the premium page, it is no where to be found and the entire policy is referred to as "commercial general liability".
4) The policy does not cover punitive or exeplary damages, NOR the legal costs involved to defend for them.
5) The declarations page specifically states that Professional Liability is NOT covered and there are NO endorsements for inclusion of E&O to be found.
This is my own opinion based on my reading of the policy. In my opinion, it does not have E&O at all. Anyone who has this policy and lives in a state that requires E&O should have it reviewed by their attorney to see if it complies with the current laws and requirements
Thoughts? Low price could be too good to be true.
REMAS Inspections, Inc.
Northeastern PA & the Poconos