Insurance Question

[Curtis Adams]

Hello Ladies & Gentlemen,

Is anybody using Lockton-Affinity group for their E&O? I have been with Tutor for a while but I recently received a quote from Lockton and they seem to be the better value. Locton is rated A while Tutor is rated A+ Superior. If anyone has any insight about this company I would appreciate hearing your comments.

Thanks,

Curtis Adams
C.H. Adams Home Inspections

[Philippe G. Heller]

We switched to them this year after a bad renewal experience with Allen Ins.

I can't tell you how good they are yet because we have not had any claims. All insurance companies are great until you need them to stand up for you. That's when they get weak in the knees.

[Curtis Adams]

That's what I am afraid of. I haven't had any claims either but my current company wants to raise my preimum about $250.00. I am somewhat new going on 5 years in the business with 400+ inspections but with my clean record I don't understand the raise in preimum.

Thanks for the reply.

[Pamela Brunges]

InterNACHI recommends Elite MGA and the Elite InspectInsure program, as they are our preferred insurance resource. Please visit www.eiipro.com to get your quote today or ask a question at inspection@eiipro.com. InterNACHI members receive a special association discount.

[James H. Bushart]

Originally Posted by pbrunges

InterNACHI recommends Elite MGA and the Elite InspectInsure program, as they are our preferred insurance resource. Please visit www.eiipro.com to get your quote today or ask a question at inspection@eiipro.com. InterNACHI members receive a special association discount.

Hi, Pamela.

Can you tell us how many people you insure and how many claims you addressed against them in 2010 and 2011?

[Christopher Currins]

Originally Posted by jbushart

Hi, Pamela.

Can you tell us how many people you insure and how many claims you addressed against them in 2010 and 2011?

Good luck.

[Roy D. Cooke, Sr]

Originally Posted by jbushart

Hi, Pamela.

Can you tell us how many people you insure and how many claims you addressed against them in 2010 and 2011?

Great question I do hope it gets answered .
Just maybe this company could be the best in the industry with Comunicating with the home Inspection industry.. Thanks ... Roy

[Ben L. Garrison]

I hope Pam is able to humor you and provide this data. Because then you will have solved the riddle of the sphinx, found the holy grail, and unlocked the doors to an entirely new outlook on life...

[James H. Bushart]

Originally Posted by bgarrison

I hope Pam is able to humor you and provide this data. Because then you will have solved the riddle of the sphinx, found the holy grail, and unlocked the doors to an entirely new outlook on life...

Like you, Ben, Pam is quick with the many ways she can benefit a home inspector.

Also, like you, she has no idea as to how many have actually ever needed her services compared to the number who have paid for them.

Interesting coincidence.

There are many rumors floating around about inspector E&O insurance. Rumor has it that it is the coverage ... not the inspection ... that invites the lawsuit. Rumor also has it that the majority of settlements rarely exceed the deductable.

Only you and Pam have the numbers that would discredit such rumors as these (and others) ... but they are never available. I wonder why that is.

[Bob Elliott]

Do Insurance companies publish this type of list for other industries? auto,fire,flood?

[James H. Bushart]

Originally Posted by belliott

Do Insurance companies publish this type of list for other industries? auto,fire,flood?

Like this?

[Roy D. Cooke, Sr]

Originally Posted by jbushart

Like this?

Thanks James great link


I and others have asked this question here in Canada since 1999 ,
I expect others have asked this question long before that
I wonder why they all have evaded giving us any info.
We pay and never get a proper answer.
I see info on life Insurance ,medical,car, home But no way can I find any facts on Home Inspectors .
I get Info from BBB and home Inspectors complaints are way down no the list.
Why are we denied the truth about our Industry.
I am 12 years claims free and I know many others who are also claims free.

[James H. Bushart]

Read this, Roy.

[Buck Hartley, CMI]

I use them. No problems

[Ben L. Garrison]

Originally Posted by jbushart

Like you, Ben, Pam is quick with the many ways she can benefit a home inspector.

Also, like you, she has no idea as to how many have actually ever needed her services compared to the number who have paid for them.

Interesting coincidence.

There are many rumors floating around about inspector E&O insurance. Rumor has it that it is the coverage ... not the inspection ... that invites the lawsuit. Rumor also has it that the majority of settlements rarely exceed the deductable.

Only you and Pam have the numbers that would discredit such rumors as these (and others) ... but they are never available. I wonder why that is.

Jim - I was just in St. Louis with one of our panel attorney's, Joe Denneler, who did a two-and-a-half hour presentation on risk management in front of roughly 75 inspectors. I wish you had been there to see it because he does a great job discussing various claims that he's defended (he's an actual home inspection trial lawyer) as well as other risk management topics. It was an ASHI meeting so I'm sure that it not only would be out of your presumable geographic range, but also a fundamental conflict in terms of assoication. We did, however, attend a New Jersey NACHI meeting on Tuesday night where Joe did a similar presentation and I think it's safe to say that everyone really enjoyed it.

I don't need to belabor the issue of the claims data and me not having it in a presentable form at my fingertips. As you have been told time and time again, I'm not the insurance carrier but that is never good enough. Oh well...

That article you provided a link to had some useful information and I know my attorney's would rather try a case in front of a jury any day rather than mediation or arbitration. Before the obvious response of, "of course they would, they make more money doing it that way" is posted, money has nothing to do with it. According to Joe, juries tend to get it right as long as the facts are presented by a competent attorney.

As for arbitration can be a good deterrent for a claimant who thinks that an E&O claim is the same as an auto insurance claim where the insurance company simply cuts a check and is done with it. Common misconception. Once the buyer knows they have to go through arbitration, they might be less inclined/motivated to squeeze money from the inspector (insurance company). But it doesn't help when inspectors list CAS, who is no longer in business, as their arbitrator which invalidates the clause.

With regard to the deductible, FREA's is $1,000... If the inspector can settle it himself for that amount, more power to him. If they are my clients, I suggest giving me a call so I can make note ot if it, but why involve the insurance company? Better get a full release signed though.