We are happy to report that the walls are slowly tumbling down on Llano Financing and the Ganter brothers (Chris & Ben). If we sound biased it’s only because we are. When any entity like Llano is on the losing end of close to 100% of the cases in both state and federal court, it becomes very clear quickly to both the judiciary and the general public that something fishy is going on.
Errors and Omissions Insurance Blog Posts
In a rare occurrence, a New Jersey Court recently enforced the State’s prohibition against frivolous litigation against a plaintiff who sought to sue a home inspector following a failed real estate transaction.
Insurance: that annoying but potentially beneficial thing we pay good money for and hope to never use. Insurance can protect your car, your business, your family, your home and more. The downside? It can often put a big red target on your back that says “sue me.”
The latest and greatest technology may be a boon to your home inspection business, but it’s likely not covered by your E&O carrier. While tech advances quickly for inspectors, insurance companies have yet to catch up and therefore may not offer appropriate levels of coverage just yet.
One of the requirements of your job as an appraiser is getting to the property to appraise it. Unless you are appraising a property within a few blocks of your own house or office, chances are that you will be driving there. Today, the costs of driving -- higher gas prices, higher insurance premiums and higher maintenance costs -- have gone through the roof.
In the auto insurance business, there is a phenomenon known as the “red convertible,” in which claims for theft and accidents are much higher rate than other vehicles. A similar reality is known among real estate insurers as “the repeat claims offender”. When it comes to raising red flags, if these offenders didn’t have bad luck, they’d have no luck at all.
On May 23, 2014, the Court of Appeal for the Fourth Appellate District, Division One, State of California, issued a very interesting decision on whether a plaintiff can successfully plead and argue fraud based on comments made about the concluded value of real estate that was appraised. The case is Graham V. Bank of America, N.A., et al. Although this ruling is unquestionably useful for an appraiser being accused of appraisal fraud, it probably is not the magic elixir many will proclaim it to be.
Whether in the field or at the office, there’s much at stake every day. Yet, many of us continue to overlook the importance of professional liability insurance.
Commonly known as errors and omissions - or E&O - insurance, these policies are designed to protect you against legal recourse should a lawsuit be filed against you. However, not all policies are created equally, and premiums are continually on the rise. So what’s the story behind these additional costs?
When it comes to real estate, risk is the name of the game. While it’s impossible to predict the future, there are steps you can take to prevent or defend against lawsuits brought about by errors and omissions made during the delivery of your services. Today, we’ll show you why taking a proactive approach to mitigating your risk matters so much.
About Cornerstone Report Radio with Brian Trotier
Cornerstone Report Radio was created for real estate professionals like you who want easy access to information when you’re out in the field. If you don’t have time to read a lot of articles and blog posts, these short, 10-minute episodes will give you the information you need to stay up-to-date on trends and issues that affect your work and your livelihood.