Publications

Publications

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  Q3 2022

  E&O Insurance Update 2022

  Despite lots of fears and concerns, we did not see that COVID had any impact on claims. Across the country, appraisers were considered to be “essential” and they were mostly keeping busy. The appraisers who were...

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  Q3 2022

  Do Not Let These Four Appraiser Liability Myths Trip You Up  By Peter T. Christensen

  I worry that some myths about appraiser liability will never go away. These myths are repeated to the point that they are basically accepted as fact. Here, I have collected four of the most common myths concerning appraiser liability...

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  Q1 2021

  Pandemic Liability  By Peter T. Christensen

  Is there an uptick in lawsuits against appraisers for errors related to the COVID-19 pandemic?

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  Q1 2020

  Land mines  By Peter T. Christensen

  Vacant land appraisals are high-risk assignments, and appraisers need to know how to navigate the often rough terrain

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  Q3 2019

  A closer look at boilerplate liability  By Peter T. Christensen

  Most general assumptions and limiting conditions in appraisal reports don’t have value in defending real-world claims — but here are three that do

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  Q2 2019

  Pushing Limits  By Peter T. Christensen

  Some states have clarified and improved the statutes of limitations for claims against real estate appraisers

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  Q3 2019

  Appraisers and Cybercrimes  By Robert C. Wiley, President of LIA Administrators & Insurance Services

  Cyberattacks are showing up increasingly in the news, with hackers targeting large businesses such as Target and Amazon, and municipalities like cities and police departments. But most hackers are pursuing small businesses

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  Q2 2019

  Cybercrimes  By Peter Christensen

  Genuine Risks for Right of Way Service Providers

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  Q1 2019

  The big question  By Peter Christensen

  Mistakes happen, but which ones will most likely get an appraiser sued?

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  Q4 2018

  Finding Fault  By Peter Christensen

  Why are disciplinary complaints filed against appraisers, who files them — and who wins?

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  Q3 2018

  Double Trouble  By Peter Christensen

  How risky are hybrid appraisals, and where do the hazards lurk?

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  Q2 2018

  Fact vs. fiction  By Peter Christensen

  Don’t let these four appraiser liability myths trip you up.

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  Q1 2018

  Storm damages  By Peter Christensen

  Don’t let a natural disaster become a liability problem.

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  Q4 2017

  Take a seat  By Peter Christensen

  Appraisers shouldn’t let liability fears prevent them from sitting in an arbitrator’s chair.

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  Q4 2017

  Indemnity 101  By Peter Christensen (from Right of Way Magazine)

  Shifting the risk of professional negligence

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  Q4 2017

  Independent Minded  By Peter Christensen

  Classifying appraisers as independent contractors is a hot issue that sends chills through the valuation profession.

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  Q3 2017

  Legally Insured  By Peter Christensen (from Right of Way Magazine)

  Arming yourself against disgruntled property owners.

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  Q3 2017

  Online Legal Resources for Appraisers  By Peter Christensen (from Right of Way Magazine)

  Appraisers who provide right of way services often pose interesting legal questions. For instance, an appraiser hired as an expert witness for a landowner might ask, “Are there any recent cases about appraisal opinions for condemnation based on surveys of public...

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  Q2 2017

  Lessons learned  By Peter Christensen

  Whatever happened with those three big appraisal liability cases?

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  Q2 2017

  Engagement agreements revisited  By Peter Christensen

  Get it signed and keep a signed copy in the work file,” advised attorney and former appraiser Lindsay McMenamin about engagement agreements when I talked to her in...

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  Q1 2017

  Gut Check  By Peter Christensen

  Earlier this year, a national bank notified appraisers bidding for commercial assignments that they would have to include a wordy new “reliance” provision in their reports. Some appraisers were taken aback by the language. ...

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  Q1 2017

  Real Property Appraisal Licensing - Then and Now  By Peter Christensen

  Only one state requires appraisers to have Errors & Omissions (E&O) insurance – Colorado. Nevertheless, most appraisers ...

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  Q4 2016

  Averting Professional Liability Claims  By Peter Christensen (From Right of Way Magazine)

  Imagine this: You are hired by the state as its appraisal expert to value Benson’s Wild Animal Farm. The state needs the property for a proposed highway project...

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  Q4 2016

  Take Action  By Peter Christensen

  Appraisers and appraisal firms aren’t the only ones with errors and omissions coverage. Insurance brokerages, such as the firm where I work, also carry E&O policies because we receive legal threats, too....

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  Q4 2016

  The grass is not always greener  By Peter Christensen

  A trial court in 2014 awarded damages of $35 million to a commercial mortgage backed securities issuer for alleged appraisal negligence by an international real estate firm’s valuation subsidiary.....

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  Q3 2016

  Freedom of information  By Peter Christensen

  I field numerous questions from appraisers that begin with something like, "Do you know of any cases about … ?" The inquiries range far and wide, from diminution of value to eminent domain to...

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  Q2 2016

  Equal opportunity  By Peter Christensen

  The business of appraisal management has matured enough in the past 10 years that we can see clear patterns of liability...

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  1Q 2016

  Hazardous Waters  By Peter Christensen

  The specter of mass litigation directed at appraisers gets more frightening...

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  Feb 2016

  The Witness Trap  By Peter Christensen

  Appraisers should only be in a courtroom if they’re paid to be there as consultants or expert witnesses. Unfortunately, some appraisers have discovered that their expert testimony can quickly transform them from expert to defendant...

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  Feb 2016

  Can I get a witness?  By Michael Brunson- SRA, MNAA & Peter Christensen

  Litigation consulting and expert witness work is a rewarding area of practice for many appraisers. The work often is intellectually stimulating and well-compensated — indeed, the hourly rates for highly regarded expert witness appraisers regularly top the rates charged by the attorneys with whom they work....

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  3Q 2015

  Gathering Storm  Peter Christensen

  A flood of appraisal lawsuits has inundated Florida, wreaking havoc for appraisers dragged into the storm and revealing how many appraisers don’t have the right E&O insurance coverage in place when the clouds burst.....

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  2Q 2015

  Sounding the alarm  Peter Christensen

  In my estimation, the highest paid real estate appraiser last year was a gentleman in California who received $56 million for his role as a whistleblower. He revealed allegedly fraudulent appraisal practices that he both performed....

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