I just got a letter from one of my clients. They say quote:
Unfortunately, we are currently dealing with more than one loss claim, resulting from errors by a few of our abstractors. This has prompted us to decide that we can no longer accept any reports from any abstractors who use disclaimers of their liability. Such disclaimers typically attempt to limit the abstractor's liability to the amount paid for the search report.
Please do not include any language on or with your reports or abstracts that attempts to limit or absolve your liability, whether in contract or tort, for your work. We wil not be able to continue to do business with any abstractor who insists on using such disclaimers. If we recieve a report or abstract with disclamer language, we reserve the right to strick such language and to accept or otherwise use the report or abstract, negating such language. End quote
Now, what do you all think about this. I am fully insured but I have included a disclaimer that reads, "This is not a Title Insurance Policy and should not be relied upon as such. We assume no Liability beyond the amount of fees charged in this matter."
I am just curious if I need to quit doing abstracts from this company or should remove my disclaimer.
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