noun
1.
An Appraisal happens just before an insurance Policy is put into effect and is undertaken by the insurance company. The objective of an Appraisal is to determine property’s current replacement cost in the event of a loss. This step is helps ensure that a policyholder is not over- or under-insured.
E&O insurance is specifically designed to protect you, or your company, from the risk of a client’s dissatisfaction.
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