brand newbie

[Michael Larson]

Originally Posted by jfunderburk

Joe Ferry sells insurance! Don't you think he makes a commission? I'm not saying his advice is wrong. But I don't consider Mr. Ferry to be objective. Best to bounce the issue off an attorney who has no financial incentive to sell you a policy. It's like asking a barber if you need a haircut.

Of course he does!(Has it always been so?)
If a friend or neighbor or family member asked you if they really needed a home inspection, what you you tell them???
How is that any different than Joe's situation.

Of course anyone considering buying E&O should consider the various opinions on the subject and make an informed decision based on their comfort level and what they are putting at risk.

[Joe Funderburk, CMI]

Originally Posted by mlarson

Of course he does!(Has it always been so?)
If a friend or neighbor or family member asked you if they really needed a home inspection, what you you tell them???
How is that any different than Joe's situation.

The difference is obvious. I am clearly a home inspector. I sell that service and people realize when they are speaking with me that I have a vested financial interested in the transaction. I wear a shirt with my company name on it. I am a licensed home inspector. Only a fool would not realize I want to earn their trust and business.

To my knowledge, Mr. Ferry has never made his relationship with insurance sales known. (I've clearly asked him that question and he chose not to reply. I can point you to the post if you are interested.) Instead, Mr. Ferry presents himself solely as a legal expert. Therefore, the unknowing might not be aware that Mr. Ferry has a vested financial interest in providing his "legal" advice. His advice comes across as objective, but it certainly is not and that fact is hidden.

It all comes down to discolsure. I do so. Mr. Ferry does not. (Anyone who fails to disclose financial relationships is being unethical. That's what gets politicians in so much hot water.)

Note: I do not know for a fact that Mr. Ferry has a vested financial interested in insurance sales. But I believe that to be so and he has not denied it when asked pointedly. If I am wrong, I will retract these statements.

[Michael Larson]

Originally Posted by jfunderburk

It all comes down to discolsure. I do so, Mr. Ferry does not. (Anyone who fails to disclose financial relationships is being unethical. That's what gets politicians in so much hot water.)

Note: I do not know for a fact that Mr. Ferry has a vested financial interested in insurance sales. But I believe that to be so and he has not denied it when asked pointedly. If I am wrong, I will retract these statements.

I agree with you completely about disclosure and that's why I posted recently that ALL vendors who give opinions on topics that might result in increased revenues to themselves disclose that fact.

Perhaps Mr. Ferry will step up and address this issue?

[Michael Larson]

Originally Posted by jfunderburk

The difference is obvious. I am clearly a home inspector. I clearly sell that service and people realize when they are speaking with me that I have a vested financial interested in the transaction. I wear a shirt with my company name on it. I am a licensed home inspector. Only a fool would not realize I want to earn their trust and business.

Isn't that also true of the barber or plumber or ___________ as well?

[Dale Duffy]

Originally Posted by jfunderburk

Note: I do not know for a fact that Mr. Ferry has a vested financial interested in insurance sales. But I believe that to be so and he has not denied it when asked pointedly. If I am wrong, I will retract these statements.

Why would you care?.....

His prices are $1,000.00 less than my current policy and I will be renewing a policy with him whether he owns the entire insurance company or receives a referral.....

[Michael Larson]

Originally Posted by dduffy

Why would you care?.....

His prices are $1,000.00 less than my current policy and I will be renewing a policy with him whether he owns the entire insurance company or receives a referral.....

Yupper!

[Joe Funderburk, CMI]

Originally Posted by dduffy

Why would you care?.....

His prices are $1,000.00 less than my current policy and I will be renewing a policy with him whether he owns the entire insurance company or receives a referral.....

Some folks do not think E&O is necessary. The author of this post is a professed "newbie" and was directed to Mr. Ferry for legal advice about obtaining this type of insurance. I was simply pointing out to the "newbie" that I believe biased opinions are offered by anyone who sells insurance but doesn't make that relationship clear.

I'm all for low rates. I don't dispute that the NACHI disount is a good thing.

[Brian E. Kelly]

Originally Posted by dduffy

Why would you care?.....

His prices are $1,000.00 less than my current policy and I will be renewing a policy with him whether he owns the entire insurance company or receives a referral.....

I also believe E&O insurance to be a cost of doing business. I am due for a renewal next month and am thinking about the NACHI discounted program.