New Environmental & Other E&O Coverages Available

[David Brauner]

New Environmental and Other E&O Coverages Available

By Isaac Peck, Associate Editor Working RE Magazine

One of the largest, nationwide providers of professional liability (E&O) insurance for home inspectors announces the addition of new, important environmental and other coverages to its flagship home inspector's E&O program. Many of the new coverages are included in the base policy with no additional premium. The "A" Rated, Admitted carrier/program is available in most states.

The addition of these new coverages to the OREP E&O home inspector's program makes it easy and affordable for most inspectors to be protected with comprehensive coverage, according to David Brauner, Senior Broker for E&O insurance provider OREP.org. Brauner says the OREP package includes comprehensive E&O, full general liability, pest/WDO, lead paint, pool & spa, mold, EIFS/Stucco, septic/water testing, commercial, indoor air quality testing, green building inspections, infrared thermography, rodent inspections and more. Most of the coverages are included in the base premium, which can be found at OREP.org; mold and septic inspection coverage can be added for a small additional cost. (At the time of publication in early May, coverage varies in AR, CO, FL, HI, LA, IL, MA, NH, NY, OH, OK, TX, VT. Mold and other new coverages will be added to these states soon. Please call OREP for updated details or visit OREP.org for a current list of states. 888-347-5273.)

Brauner, who has helped inspectors place insurance coverage for over 20 years said, "OREP was exhibiting at a conference last year when several inspectors visiting our booth told us that they love the program but that it was missing two coverages they needed: mold and EFIS/Stucco. It took a year but these two coverages and many others have been added, making it one of the broadest packages of coverage available for home inspectors. And most coverages are included in the base policy at the already competitive minimum premium. This is why cost should no longer be a factor that keeps any inspector from enjoying complete coverage."

More Coverage, More Income

Having broad coverage at a competitive premium also makes it cost effective and safer for inspectors to offer additional income-producing services, Brauner said. "If you decide to give yourself a raise by offering more services, broad coverage provides the peace of mind that we buy insurance for in the first place. And it is especially nice when you don't have to pick and choose among essential coverages because of the expense. Now you can afford it all."

OREP's program includes the usual coverages for prior acts, referring parties, employees and contractors of the company, commercial and industrial inspections, construction draw and new construction inspections. But according to Brauner, a closer look also shows why the program is among the most comprehensive available. "The program is full of attractive little details that separate it from the pack. For instance, there is technology coverage built in and a 50 percent deductible reduction if a claim is resolved by mediation. There is a daily expense stipend for the inspector if they must attend trials or hearings as a result of a claim- $250 per day, up to $5,000. There is built in punitive damages coverage and much more," Brauner said. "It's Cadillac coverage," he said.

No Time Wasted on Quoting

OREP also is the only program that allows most inspectors to get back to work fast with no quoting required. Most inspectors can secure coverage without having to waste time on the back and forth that is typically involved with quoting, Brauner said. "The self-rating application, that is unique to OREP.org, works for most inspectors and companies. It gets inspectors back to work fast. And next year most policies will renew automatically at the same premium with no application needed at all," Brauner said.

"If inspectors take as much care examining their E&O insurance coverage once a year, as they do on every inspection, every day of the year, the advantages of OREP's program will be obvious," Brauner said. "Give us a call or visit OREP.org to get the details. We answer the phone!"