Errors and Omissions Insurance has become a mandatory part of many real estate appraisers' businesses.  Clients demand it and appraisers buy it. But what is the fundamental purpose of E&O insurance and how does LIA's program provide more than just a policy.

E&O Insurance is a type of liability insurance.  Sometimes referred to as professional liability insurance, E&O protects your actions in the specific profession in which you work. Should someone claim that they have suffered financial damage because of your actions as a real estate appraiser, your E&O policy defends you against legal claims or threat of a lawsuit.  In addition, our E&O program also provides limited financial assistance in administrative board matters such as a state board complaint.

LIA's program is unique because of our focus on educating real estate appraisers about avoiding liability exposures.  We have become recognized nationally for our dedication to loss prevention.  Informative Claim Alert newsletters, seminars and articles have become well-known hallmarks of LIA.  In addition, we are invited and attend national meetings with organizations such as the Appraisal Institute, AARO and the Foundation's Industry Advisory Council.

Catch up on some of the latest liability issues affecting the real estate appraisal industry and find out our reaction and suggestions on our blog, the Appraiser Legal Defense and Insurance Blog.