• “Errors and Omissions of Appraisers” provides coverage for an appraiser or appraisal firm against claims related to negligence in developing an appraisal for an applicant. The policies are claims-based and cover economic losses resulting from errors in the valuation process (for example, the appraiser overestimated the value of a building, causing the owner to pay an inflated amount of property tax). Such coverage is also sometimes contained in real estate brokers’ error and omission policies.