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Subprime crisis and E&O insurance.

Publication: Valuation Insights & Perspectives
Publication Date: 22-JUN-08 		Format: Online
Delivery: Immediate Online Access
Full Article Title: Subprime crisis and E&O insurance.(insurance connection)

Article Excerpt
Hardly a day goes by without the evening news broadcasting another victim of the subprime meltdown or the declining real estate market. Foreclosures are at an all-time high, and these foreclosures result in the increased possibility of real estate appraisers, along with everyone involved in the real estate transaction, being sued. LIA's 2007 claim activity increased 50 percent from 2006, and early 2008 activity is following suit. While many of these claims are filed merely as a knee-jerk reaction and hold no real merit in their allegations against the appraiser, the past 12 months has made it clear that the E&O program's rates must be...

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