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Special Advertorial Section Property Valuation Guide LIA Administrators and Insurance Services Corporate profile key personnel Robert C. Wiley Founder and President Peter Christensen General Counsel Robert A. Wiley VP Paul Porter Program Development Manager Susan Lomeli Director, AMC Sales contact information 1600 Anacapa St. Santa Barbara, California 93101 California License #0764257 Phone: 800.334.0652 Web: Liability.com LIA Administrators and Insurance Services is a national insurance administrator specializing in errors and omissions (E&O) insurance and other insurance products for the real estate valuation industry. Since he founded LIA with one employee in 1977, Robert C. Wiley has guided its growth into one of the largest providers of E&O insurance to appraisers, appraisal management companies, and other valuation industry participants in the United States. In addition to E&O insurance, LIA provides surety and fidelity bonds, insurance, and collateral valuation (appraisal warranty) coverage. LIA provides these products to thousands of individual and corporate clients in all 50 states. It now has 30 employees including attorneys, underwriters, information technology specialists, and licensed insurance brokers. These professionals have decades of successful experience designing, implementing, and administering E&O programs. LIA offers a full suite of program services such as: • • • • • Marketing Underwriting Billing Policy issue Risk management and loss prevention Company History Robert C. Wiley and his two sons, Robert A. Wiley and Peter T. Christensen, have built the business on their concept of establishing partnerships with clients that work toward identifying liability exposures, taking measures to reduce them and securing cost-effective coverage for those that inevitably remain. Beginning in 1987, he took the lead role in forming the Appraisers Liability Insurance Trust Purchasing Group (ALITPG), one of the first purchasing groups to be registered nationwide. It is the oldest active purchasing group for appraisers in the country and one of the largest in terms of number of insured appraisers and premium volume. Competitive Advantage LIA's general counsel, Peter Christensen, is a nationally recognized speaker and writer on legal, regulatory, and compliance issues confronting the valuation industry. He and Robert A. Wiley developed LIA's series of claim alerts and loss prevention seminars that provide LIA clients with cutting-edge risk management information and liability reduction methods. The company's outside counsel, Gaglione, Dolan, and Kaplan, has defended more liability claims against appraisers than any 30 | The M Report other firm in the country. This high level of technical expertise is combined with LIA's long tradition of personal service to clients ranging from small sole proprietorships to large national corporations. In recognition of the quality of coverage, value, and service it provides, the Appraisal Institute, the largest association of real estate appraisers in the United States, has endorsed LIA's E&O program for more than 20 years. Products and Services In addition to insuring nearly 20,000 individual appraisers over the past few years, LIA has grown to be the largest provider of E&O insurance to appraisal management companies in the United States. The Office of the Comptroller of the Currency recently issued a bulletin on risk management guidance. It spells out the responsibility of financial institutions to establish and maintain comprehensive risk management protocols in their dealings with third parties that provide services including appraisal management companies (AMCs). LIA can help AMCs satisfy their lender clients' requirements in this critical area by demonstrating that they have comprehensive insurance protection including: • Errors and omissions insurance • General liability coverage • Fidelity and (or) surety bonds 2014 Goals and Strategies Going forward in 2014 and beyond, LIA has established a brokerage department to better serve businesses that are related to its valuation industry specialty but that are not appraisal or appraisal management companies per se. Such companies include those whose operations comprise asset management, default servicing, loan origination, title, closing, property management, and other related services. client testimonial "As a large national appraisal management company with operations in all 50 states, having the right errors and omissions insurance is very important to us. LIA has been instrumental in securing the proper type and amount of coverage at the lowest possible cost for Allstate Appraisal, L.P." —Steve Albert, MAI, SRA, EVP