E & O Insurance -Citadel Insurance Services

[Brenda G. Hungerford]

Anyone ever hear or is currectly insured by Inspector Pro Insurace Their parent Company is Citadel Insurace Services out of Draper, UT. They claim the policy is underwritten by Lloyds of London.

I am looking to renew my E&O policy and have been contacted by this company. Their price is very good but their application is very vauge and they don't require a signed inspection agreement for coverage. Seems odd. Any info would be helpful.

[Keith Runquist, CMI]

A few months ago when DDN was in business these people found me through DDN. Their program sounds good and I renew at the end of March with my current company. I'll be looking carefully at it and it will save me over $1000 a year. Same coverage.

[Brenda G. Hungerford]

Their quote to me was similar also saving me over 1000.00 /yr. Plus giving me more coverage. The policy quote is a claims made policy with no addition charge for prior acts, the policy covers home inspections, pool and spa, new construction, moisture intrusion, thermal imaging, energy audits and draw inspections. For an additional $200 I can also get WDO & MOLD coverage. When I questioned the legitimacy of their offer they claimed to be in negations with, and will soon be the exclusively recommended E & O carrier for Inter-Nachi. I was hoping that someone with the Nachi organization could confirm or deny this allegation or give some insight into this company.

[Douglas Wall]

The policy quote is a claims made policy with no addition charge for prior acts, the policy covers home inspections, pool and spa, new construction, moisture intrusion, thermal imaging, energy audits and draw inspections. For an additional $200 I can also get WDO & MOLD coverage.

A few years ago a mold E&O was sold here in Florida thru ESA, turns out it was smoke and mirrors. Make sure you know what your coverage really is. Our mold liability with E&O is around $3,000 a man. If you are going to pay for it, know when and what it covers.

[Ryan Osborne]

I'd be happy to answer any questions you have regarding the policy and the coverage available.

But the basics of the policy are the following:

- Lloyds of London is carrie of the policies
- Mold, Radon, Termite coverage is available
- There is also coverage available for Septic, Pool & Spa
- The policy is Claims Made
- Limits available up to $2M aggregate

Send me your questions, I'm happy to answer them.

rosborne@citadelus.com or 866.916.9420

Ryan Osborne

[Ryan Osborne]

Additionally I wanted to clarify an item from a previous post....

The InspectorPRO Insurance Program isn't currently endorsed by NACHI. We have been very active in seeking feedback from NACHI as well as individual inspectors to better understand how we can deliver the greatest possible amount of value per premium dollar spent for the nation’s home inspection industry. One way we do this is by aligning ourselves with the leading global insurance carriers and trade organization. Your feedback is invaluable to us and is always welcome.

Please let me know if you have any immediate questions I can answer.


Ryan Osborne
866.916.9420
rosborne@citadelus.com

[Brenda G. Hungerford]

I wanted to give you an update of my investigation into Citadel Insurance Services.
I first checked the state insurance commissioners website for insurance companies doing business in the State of Nevada. I was unable to come up with anything for them. I gave this information to the sales rep who called me and he provided a license number for surplus lines. I then called the Nevada insurance commissioner’s office and see if this was a legitimate company. The number provided was for a property and causality license and the insurance department was unable to verify that under this license they were able to issue surplus line policies for inspector professional liability. I also reviewed a sample policy from them. The sample policy provided was for a Business General Liability policy with a professional Liability endorsement. However the policy was geared for radon and termites. Bottom line, I was unable to find enough info from this company to make me feel warm and fuzzy so I signed with OREP.

[Greg Brainerd]

I'm going to give these guys a try. I haven't had a claim in 8 years, and I'm tired of paying $3000 a year to cover myself. After all- what's a claim going to cost? Missing a foundation problem is about as bad as it gets. Maybe $50,000? I'd bet most claims are closer to $5-10K. Really now- are 1 in three of us going to get sued this year? Put another way, do you screw up once in three years? Even at the top end, are 1 in 17 of us going to fail to perform? If so, we need some changes in the way we do things! It looks like there is a lot of profit in insuring inspectors. These guys still have a pretty good margin at their reduced rates.

Another thing- If they were poor about paying legitimate claims, we'd see it all over these pages. There are enough NACHI members that we could toast them if they fool around.

[Billy Boerner]

Originally Posted by gbrainerd

I'm going to give these guys a try. I haven't had a claim in 8 years, and I'm tired of paying $3000 a year to cover myself. After all- what's a claim going to cost? Missing a foundation problem is about as bad as it gets. Maybe $50,000? I'd bet most claims are closer to $5-10K. Really now- are 1 in three of us going to get sued this year? Put another way, do you screw up once in three years? Even at the top end, are 1 in 17 of us going to fail to perform? If so, we need some changes in the way we do things! It looks like there is a lot of profit in insuring inspectors. These guys still have a pretty good margin at their reduced rates.

Another thing- If they were poor about paying legitimate claims, we'd see it all over these pages. There are enough NACHI members that we could toast them if they fool around.

I signed up with http://www.greia.org. Excellent customer service. I have 1MILL in coverage and mine covers everything your talking about all for 1654 a year. They even do payments if you want. You need to be a graduate of a established school and a member of NACHI or any other organziation if your new. And get this the fee is still the same . If you call tell Sarah I sent you.

[Douglas Wall]

- Lloyds of London is carrie of the policies

With so many reliable companies in the US, why would you need Loyds of London as carrier? Don't they insure high risk like the titanic? Several years ago we were involved with a policy that used Loyds of London, found out after paying several thousand that we did not have the coverage we thought we had. There are plenty of good companies out there, check them out.