Appraisal Management Company

Professional Liability Coverage for: 

1. Appraisal Management Services on behalf of others.
2.  Creation and administration of a network of licensed or certified appraisers who are independent contractors of the insured and that have been selected and approved by the insured to perform appraisals for others.
3. Recruiting, qualifying, verifying licensing or certification, and/or negotiating fees and service level expectations with network appraisers described in item ‘B’ above.
4. Assigning, tracking and determining status of orders for appraisals.
5. Reviewing and conducting quality control on completed appraisals prior to delivery of the appraisal.
6. Delivery of completed appraisals.

Applications

Submission Requirements for NY, NJ, CT, and PA:

1. Copy of the firm’s current letterhead.
2. Fully completed, signed and dated AMC Application.
3. Resumes of firm’s key personnel (not panel appraisers or independent contractors)
4. Copy of firm’s standard agreement with panel appraisers.
5. Copy of the firm’s appraiser selection criteria guidelines, vetting process, and required qualifications for panel appraisers.
6. Copy of firm’s quality control procedures.
7. Claims Supplement for each claim or disciplinary action in the past five (5) years, if any.
   Note: If you have had any claims, in the past five (5) years, then we will need currently valued insurance company loss runs for the past five (5) years.
8. Current Professional Liability Insurance Declarations page & all material endorsements including, Prior Acts Endorsements, if any.