Wednesday, January 25, 2012

Appraiser Liability Claims -- Why Do Claims Get Settled?

The article below comes from the most recent Claim Alert published by LIA Administrators & Insurance Services -- Why Do Claims Get Settled?  This article describes why and how lawsuits and other claims against appraisers in our E&O insurance program are settled.  Appraisers should take heart in knowing that most claims against appraisers defended in our program do not result in any monetary payment to the plaintiff. Additional Claim Alerts from LIA are available here in the Loss Prevention section of LIA's website.  The article was written by Claudia Gaglione of Gaglione, Dolan & Kaplan, national claims counsel for LIA's appraiser E&O program.

Claim Alert: Why Do Claims Get Settled?
When an appraiser reports a new claim, one of the first questions he or she asks is, "What happens now?" After we explain how the litigation will be handled, and what will be expected of the appraiser during the course of the lawsuit, we inevitably get into a discussion about settlement. Many appraisers are afraid that the insurance company will pay to settle just because a claim has been made. That is not the case [in our program]. There must always be a strong reason for settlement to be an option. Most of the time, a claim is settled because after careful analysis and review, it is determined that the appraisal in question cannot be supported. If that is the conclusion reached, then efforts from that point forward are designed to put the case into the best posture for settlement. Sometimes a case is settled for other reasons, such as economics or the personal desire or circumstances of the insured. In this article we will look at some actual claims from the LIA archives and discuss the facts and circumstances that made settlement the best, and sometimes only, option.
Tell Tale Claims...

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Wednesday, January 11, 2012

Presentation of LIA's Loss Prevention Program to North Bay Chapter of the California Real Estate Appraisers Association on January 19, 2012 in Petaluma, CA

LIA and READI are pleased to support the North Bay Chapter of the California Real Estate Appraisers Association by presenting their 4-Hour CE seminar "Loss Prevention Program for Real Estate Appraisers" at a meeting of the North Bay Chapter on January 19, 2012, 8:00 a.m. to 12:30 p.m., in Petaluma.  Here is a link to the North Bay Chapter's sign-up page for the seminar.  The North Bay Chapter's has made this seminar free for members and $50 for non-members -- which provides a good reason to join this great appraiser group.


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Tuesday, January 3, 2012

LIA's Seminar "Loss Prevention Program for Real Estate Appraisers" at the ATA’s Rio Grande Valley State Appraisers Conference, Jan. 17-18

LIA is pleased to be affiliated with the Association of Texas Appraisers (ATA).  I will be teaching LIA’s 4-Hour CE seminar "Loss Prevention Program for Real Estate Appraisers" at the ATA’s Rio Grande Valley State Appraisers Conference in McAllen, TX, January 17-18.  The conference offers a total of 11 CE hours at reasonable cost to both members and nonmembers.  Here is a link to the conference information on ATA's website.  A 2012-13 USPAP Update course will be given on the first day.  Our seminar will be presented in morning of the second day. 

Appraisers who are insured by LIA for their E&O or who purchase E&O from LIA later this year become eligible for a one-time discount on their E&O premium of $50 (for a $500K or $1m per claim policy) or $25 (for a $300k per claim policy) per appraiser by completing the Loss Prevention Program at the conference.  This discount may be applied toward any payment due after the seminar.


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