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COLORADO APPRAISER

ERRORS & OMISSIONS INSURANCE

Overview

 Rice Insurance Services Company, LLC (RISC)

Under agreement with the
Colorado
Department of Regulatory Agencies

Dear Colorado Appraiser,

All active Colorado real estate appraisers (except those employed by a local, state, or federal government entity) are now required to carry errors and omissions (E&O) insurance.  The Colorado Department of Regulatory Agencies (DORA) has contracted with Rice Insurance Services Company, LLC (RISC) to administer the group E&O insurance program for Colorado appraisers. Continental Casualty Company, a CNA insurance company, is the insurance carrier for the E&O PROGRAM.  The CNA insurance group is one of the largest writers of commercial property casualty insurance in the United States and is rated A (Excellent) by A.M. Best.  This program is designed exclusively to provide professional liability insurance for Colorado appraisers.

RISC provides all servicing, including claims handling, for the Colorado program.  RISCs management team specializes in handling group programs for states with mandatory E&O insurance requirements.  Any appraiser may be the victim of a frivolous lawsuit and even the most careful professional cannot always avoid an honest mistake.  Under this program, the insurance carrier has the responsibility of defending, as well as paying covered settlements or judgments on covered claims, up to the limits of liability.

We look forward to working with Colorado appraisers.

Sincerely,

Cindy Rice Grissom

Cindy Rice Grissom, CEO

 

CNA is service mark and trade name registered with the US Patent and Trademark Office. The program referenced herein is underwritten by Continental Casualty Company, one of the CNA insurance companies. This information is for illustrative purposes only and is not a contract. It is intended to provide a general overview of the products and services offered. Only the policy can provide the actual terms, coverages, amounts, conditions, and exclusions. This coverage is only available in Colorado. A specimen policy will be provided to you upon request. 2013.