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ALERT - NEW GoGo Contact Info - Bloodhound/FL
12/15/2010 5:13:51 PM (3030 views)

O'Reilly, Marsh & Corteselli, P.C. - Edouard LeLocle/SC
12/13/2010 8:57:01 PM (4703 views)

[+] Financial Dimensions - Alix Ott/MI (6 replies)
12/13/2010 3:54:49 PM (3842 views)

[+] "Batting Cleanup at Bank of America" - Leigh Attridge/MA (1 reply)
12/11/2010 5:22:32 PM (4800 views)

[-] e&o sticker shock - john franz/NJ (12 replies)
12/10/2010 11:37:17 AM (5019 views)
Re: e&o sticker shock - Jessica Talley/NJ
12/11/2010 8:10:24 PM (4147 views)
Re: e&o sticker shock - Thomas Rance/PA
12/13/2010 10:21:56 AM (4046 views)
Re: e&o sticker shock - Nancy Walker/AZ
12/13/2010 11:00:51 AM (3646 views)
Re: e&o sticker shock - john franz/NJ
12/13/2010 7:28:28 PM (3678 views)
Re: e&o sticker shock - K C/NJ
12/17/2010 12:38:34 PM (3433 views)
Re: e&o sticker shock - john franz/NJ
12/13/2010 7:31:05 PM (3887 views)
Re: e&o sticker shock - KELLY/CA
12/20/2010 10:38:36 AM (3517 views)
Re: e&o sticker shock - Scott Johnson/OH
12/20/2010 11:35:18 AM (3461 views)
Re: e&o sticker shock - Jessica Talley/NJ
12/20/2010 9:22:10 PM (3354 views)
Re: e&o sticker shock - Robert Franco/OH
12/20/2010 1:12:01 PM (3312 views)

That is very bad, and dangerous, advice.  Your liability as an abstractor has nothing to do with your product "being insured."  Your liability is in the form of negligence and the insurance protects you in case you are sued for negligence.  Whether you state your product is "not insured" has nothing to do with a client's ability to sue you for negligence.

And, often times, it is not the client that will sue, it will be their E&O carrier who sues you if they have to pay out a claim, on behalf of your client, caused by your negligence.  When they pay the claim, they are subrogated to your clients rights and they could sue you regardless of whether yoru client required you to carry E&O or not.

Furthermore, your client's E&O carrier may require them to use only abstractors who do carry their own E&O insurance for just this reason.  If they don't follow this requirement, their carrier could potentially deny any claim they might have.

I would never consider doing this kind of work without E&O insurance and I would never advise anyone else to do so either. 

Best,
Robert A. Franco
SOURCE OF TITLE

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Re: e&o sticker shock - john franz/NJ
12/28/2010 11:30:46 AM (3126 views)
Re: e&o sticker shock - PAULA DEEM  REYNOLDS/FL
12/20/2010 9:15:27 PM (3420 views)


Real Title Services


[+] Puerto Rico - mike skene/CA (1 reply)
12/10/2010 11:30:47 AM (3581 views)

[+] Allmon Law Firm, Seneca, SC - Janis Talbot/SC (1 reply)
12/9/2010 8:33:22 AM (3485 views)

[+] Legal Woes Mount for a Foreclosure Kingpin - Leigh Attridge/MA (2 replies)
12/9/2010 7:45:50 AM (4812 views)

[+] Altisource Portfolio Solutions - Patrick Hand/FL (1 reply)
12/8/2010 5:34:58 PM (3921 views)

Fast Forward Abstract NO PAY - Shannon Budziak/VT
12/8/2010 11:26:03 AM (2824 views)

[+] Sole Proprietor or LLC ? - F P/VA (11 replies)
12/8/2010 9:39:34 AM (3442 views)

[+] Need info on a Company? - Joyce East/GA (9 replies)
12/7/2010 2:07:05 PM (3537 views)

[+] Foreclosure alternatives - ESOP in Ohio - Leigh Attridge/MA (2 replies)
12/7/2010 1:46:51 PM (4481 views)

Nimby in Westwood Ma. - Leigh Attridge/MA
12/6/2010 1:23:23 PM (4069 views)

[+] National Court Research- CA - Martha Moon/FL (1 reply)
12/6/2010 11:38:32 AM (3126 views)


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