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Insurance Services Company, LLC
We put the Experience and Options in E&O programs
Appraisers Group Policy
Appraisers' E&O Insurance
Designed for Colorado Licensees
Your State Program
RISC and the carrier share a commitment to their insureds and
providing valuable coverage to Colorado real estate appraisers.
The state group program offers affordable E&O insurance to each
and every appraiser by spreading the risk over a large number of
insureds. Without the group programís low premium, other
carriers have no incentive to offer real estate E&O policies at
affordable prices. E&O premiums outside of the group program
often cost thousands of dollars.
Rely on the Most
Provider in the Business
The Rice family and their colleagues have specialized in
mandated real estate E&O programs since 1989. We provide group
policies in 11 of the 13 states that have group programs and
require real estate appraisers or licensees to maintain
insurance. CNA has more than 50 years of experience in E&O
programs, including over 20 years in real estate E&O. CNA is the
top provider of real estate liability insurance, delivering more
than 100 years of experience, industry knowledge, and financial
strength to manage even the most complex risks. You can be
confident we will be here for you even after you purchase
When a Claim is Made,
Our Claims Adjusters Focus on You
Some people assume insurance companies look for reasons to deny
coverage. Our duty to find coverage where the policy supports it
is our utmost concern. Most insurance providers use one entity
to sell the policy and another to handle claims. Because we do
both, the information we provide about the policy reflects how
it will actually apply in the event of a claim. Providers who
donít administer claims may not know how the carrier actually
applies the policy when a claim is made.
We Stand by You Even if
there is a Claim
You may be involved in a claim even if you did everything by the
book. Some providers wonít write your coverage if you have had a
claim. Or if you have a claim, they may not renew your policy!
There is no need to fear reporting a claim under our program. We
understand that having a claim does not mean that you did
anything wrong. Anyone can be involved in a transaction that
goes sour. Never think that it canít happen to you. And we are
here to help you if it does.
Call us at
1-800-637-7319. We look forward to hearing from you.
Enrollment for January 1, 2016 -
January 1, 2017 Policy Period
the "Enroll or Renew" Button on the left for more information.
E&O Providers are the Same . . .
Neither are All E&O Policies
Always Review the Actual Policy Provisions!
The most accurate representation of what a policy covers is the policy
itself. We recommend that you review any policy you are considering and
ask these questions:
Does the policy provide first dollar defense?
Yes. There is no
deductible for defense costs. Other policies may have stringent
requirements that must be followed to qualify for first dollar defense.
Does the policy offer unlimited defense costs?
Yes. There is no limit on the
amount of defense costs under the basic policy (defense costs are
limited under the discrimination, lock box, regulatory complaints, and
subpoena coverages; however, traditional E&O policies do not provide
these coverages at all).
Does the policy insure transactions you do for
The RISC policy applies to claims involving services performed for your
parents; grandparents; siblings; aunts; uncles; cousins; children; or
your spouseís parents, grandparents, siblings, or children.
Does the policy apply to claims relating to all
types of real property? Yes.
The group policy applies to any claim relating to
professional services, regardless of the type of property involved.
Other policies may limit coverage to a specific type of property, such
as residential, or require additional premium for coverage for other
kinds of property. Even if you currently handle only residential
appraisals, consider whether you are willing to forgo an opportunity to
appraise commercial property or farm land or to risk not having coverage
for a claim resulting from the transaction.
Does the policy insure your firm for its
vicarious liability for your professional services?
Yes. Claims are often made
against appraisal firms as a result of their appraisersí negligence.
Under the group program, the policy applies to covered claims alleging
the firmís vicarious liability for negligence in the insured appraiserís
professional services. Some policies issued to individual appraisers may
not provide coverage for the firmís vicarious liability for their
actions, which may leave the firm uncovered in the event of a claim.
Does the policy allow you a voice in choosing
an attorney? Yes.
The group policy provides that defense counsel must be mutually
agreeable to the insured and the carrier, so the carrier cannot assign
an attorney you do not agree to represent you in a covered claim.
Are insureds satisfied with the providerís
Below are excerpts from emails we have received from actual insureds:
Iíve never seen better service than what you provide for us each year. I
ask for something and itís always answered by the end of the day. I wish
all companies had your work ethic. I know Iím not the only one asking
many questions and youíre always there.... Thank you. B.F. (CO real
My sincere thanks to [the RISC adjuster] for her professional, timely,
and compassionate handling of my situation. I have never gone through
this . . . but at this point, I feel that I am in excellent hands with
[local defense counsel] and his firm.
G.R. (CO real estate broker)
Your excellent customer service is truly appreciated. M.G. (CO
You are always so helpful. Thank you for always making this so simple
for me. J.M. (CO appraiser)
The program referenced
herein is underwritten by Continental Casualty Company, a CNA
insurance company. 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
applicable policy can provide the actual terms, coverages,
amounts, conditions, and exclusions, which may be subject to
change without notice. In the event of a claim, the nature and
extent of coverage is determined based upon the claimís facts,
circumstances, and allegations and application of the relevant
policyís terms, conditions, and exclusions. The E&O program
described herein is only available in Colorado. CNA is a
registered trademark of CNA Financial Corporation. Copyright ©
2016 CNA. All rights reserved.
Insurance Services Company, LLC
put the Experience and Options in E&O programs
Norbourne Blvd., Louisville, KY 40207