Friday, February 22, 2013

Non-Lending Appraisal Liability CE Seminars in Sacramento, San Diego, Petaluma and Portland, OR

How do appraisers who appraise conservation easements get sued? Do review appraisers get sued? What special language should be considered for engagement letters for different types of non-lending work? These are the kinds of questions answered in the CE seminar I am teaching in Sacramento on March 12, 2013.

The class is entitled "Liability Issues for Appraisers Performing Litigation and Other Non-Lending Work" -- or, in other words: “Staying out of the courtroom unless you’re being paid to be there.”

The class on March 12 is hosted by the REAA's Sacramento Chapter. LIA Administrators & Insurance Services is the educational provider. The cost is $45 for REAA members and $75 for non-members. Appraisers insured by LIA receive a discount on their E&O premium of either $25 or $50 for completing the class as explained further below.

Registration for the March 12 class in Sacramento is through REAA and further information about time and location are at this link: Registration

Other future dates of this class are -- registration for these classes is with each organization below:

(1) San Diego, May 9, with the San Diego Chapter of the Appraisal Institute;
(2) Petaluma, CA, May 16, with the REAA's North Bay Chapter; and
(3) Portland, OR, May 17 (tentative date and will be submitted for OR and WA credit), with the Greater Oregon Chapter of the Appraisal Institute. 
Thank you,
Peter Christensen, LIA's general counsel

Liability Issues for Appraisers Performing Litigation and Other Non-Lending Work 
“Staying out of the courtroom unless you’re being paid to be there.” 

Course Summary, Educational Objectives and Additional Information 

LIA Administrators & Insurance Services
3 Hours Appraiser Continuing Education
OREA Approval No. 13CP119903001

Course Summary 
Most current discussion of appraiser liability focuses on lawsuits and claims relating to appraisals performed for mortgage lending.  However, appraisal assignments for litigation and other non-lending purposes actually present a greater liability risk to the appraiser on a per assignment basis.  This seminar addresses the specific liability risks associated with appraisals for litigation, divorce, estate, tax, conservation and other non-lending purposes.  It also addresses special liability considerations for review appraisers and supervisory appraisers. Actual lawsuits against appraisers form the foundation of the seminar.
These are the kinds of questions that appraisers get answered in this seminar: Who sues appraisers serving as expert witnesses? Who sues appraisers performing appraisals for tax purposes?  What’s the surest way for an appraiser to be sued for non-lending work?  What’s the likelihood of being sued about a retrospective review appraisal?  How does potential liability for a retrospective review compare with potential liability for a contemporaneous review?  What are the statutes of limitation for claims?  What special provisions should I consider putting in an engagement letter for different types of non-lending assignments?
Course Objectives
The objectives of the seminar are to educate appraisers about:
           The most common sources and causes of professional negligence lawsuits against appraisers in connection with non-lending appraisal assignments.
           The unique liability risks imposed by certain non-lending work.
           What appraisers can do to minimize liability risk for non-lending work (the emphasis is on better and clearer disclosure and using appropriate provisions in reports and engagement letters).
           How to deal with common liability threat situations.
           The role of professional liability insurance.
Course Instructor
The instructor is attorney Peter Christensen.  He is the general counsel of LIA Administrators & Insurance Services, which provides professional liability insurance to more than 20,000 appraisers.  LIA’s E&O insurance program for appraisers is endorsed by the Appraisal Institute.  Peter also maintains LIA’s website about appraiser legal issues at www.appraiserlawblog.com.
E&O Discount Information
The seminar is not in any way a commercial for E&O insurance.  It is focused on liability prevention issues and education.  However, appraisers who are insured by LIA’s E&O program with Liberty Mutual or who purchase E&O from LIA with Liberty Mutual within a year after the seminar become eligible for a one-time discount on their premium of $50 for a $500K or $1m per claim policy or $25 for a $300k per claim policy per appraiser by completing the seminar. The discount may be applied toward any payment due within a year after the seminar.  Only one discount per insured appraiser per year – i.e., an appraiser may not obtain multiple discounts in the same year by taking multiple seminars offered by LIA.