Attn: Non-members in states that require E&O... it must suck to be you.

[Nick Gromicko]

OK, OK, that was a bit harsh, I apologize, but I'm trying to promote this and members do save many times the cost of NACHI membership on just this one benefit.

Anyway...

The insurance industry has been cautiously watching the home inspection industry for years. These insurance companies have a lot at risk. They weren't going to give just any association an exclusive discount. Of course I can brag about NACHI members all day long, but having a global, best rated insurance company bet on NACHI with their own money... well that says everything about NACHI. I am very proud that insurance actuaries have finally come to conclude what I've known all along: NACHI members and only NACHI members deserve to pay much less because NACHI members are the best home inspectors in the world.

www.nachi.org/eo.htm ... now available in all 50 states.

[Bruce A. King]

Great, now get them to help with the tail coverage we have to pay to switch companies.

[Nick Gromicko]

I think Joe Ferry solved that problem. Ask him: legal@nachi.org

[jferry]

Originally Posted by bking

Great, now get them to help with the tail coverage we have to pay to switch companies.

Bruce - You don't need to buy tail coverage to switch. The NACHI E & O Coverage has automatic retroactive coverage.

Thus, if you inspected a home in year 1 when you were covered by ABC Insurance company, then you switch to NACHI's insurer, the Lexington Insurance Company, in year 2, you are covered for a claim made for the inspection you conducted in year 1.

Otherwise, you would be a hostage to your original insurer forever.

[Nick Gromicko]

Joe,

Read http://www.nachi.org/eo.htm and email me it back with language added about the retroactive coverage as I get the question often. Put the added language in red so I can change it on the sites.

[dwillis]

Don't take the way Nick says stuff too seriously, he is laughing all the time.

[jferry]

Originally Posted by gromicko

Joe,

Read http://www.nachi.org/eo.htm and email me it back with language added about the retroactive coverage as I get the question often. Put the added language in red so I can change it on the sites.

Will do.

[Marcel Gratton]

Originally Posted by gromicko

... now available in all 50 states.

Can't wait till its available in Canada!

[Bruce A. King]

Originally Posted by jferry

Bruce - You don't need to buy tail coverage to switch. The NACHI E & O Coverage has automatic retroactive coverage.

Thus, if you inspected a home in year 1 when you were covered by ABC Insurance company, then you switch to NACHI's insurer, the Lexington Insurance Company, in year 2, you are covered for a claim made for the inspection you conducted in year 1.

Otherwise, you would be a hostage to your original insurer forever.

sounds good,
1. Will they also provide general liability coverage at a good rate?
2. Is the E&O premium lower the 2nd year?

[Roy D. Cooke, Sr]

Sorry wrong location Roy

[jferry]

Originally Posted by bking

sounds good,
1. Will they also provide general liability coverage at a good rate?
2. Is the E&O premium lower the 2nd year?

1. Yes. 2. Don't know.

[Justin Watts]

Hey Joe....
I have a question for you.

Is the E and O and General Liability Separate limits???? For instance, 1 million for E and O, then 1 million for General Liability, or are they combined limits?

Just curious...if you knew.
Thanks
Justin

[jferry]

They are combined.

[Justin Watts]

thanks for the info. joe....
The price is right under Nachi's discount! I will be signing up with AIG this year!

[Alexander M. Badler]

I think it's against insurance law to offer an exclusive on E&O insurance - look it up. The AIG guys will tell you if they ask. Nobody can offer an exclusive on E&O insurance. If non-members calls AIG, they'll get the same deal.