Specializing in Mandated Real Estate Errors & Omissions Insurance
ē We put the Experience and Options in E&O programs ē


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RISC Rice Insurance Services Company, LLC
We put the Experience and Options in E&O programs

Colorado Appraisers Group Policy

Appraisers' E&O Insurance
Designed for Colorado Licensees


Please Support 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 Experienced
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 coverage.

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.

Have Questions?

Call us at 1-800-637-7319. We look forward to hearing from you.

Enrollment for January 1, 2016 -
January 1, 2017 Policy Period

Click the "Enroll or Renew" Button on the left for more information.

Not All 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 relatives? Yes. 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 service? Yes. 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 estate broker)

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 appraiser)

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.

RISC  Rice Insurance Services Company, LLC
We put the Experience and Options in E&O programs
4211 Norbourne Blvd., Louisville, KY 40207
Phone:  502-897-1876
Toll-Free:  800-637-7319 Fax:  502-897-7174 Website:  www.risceo.com