May 2004
RESNET to Provide Affordable Business Owners and Professional Liability Insurance to Member Raters
The January/February 2004 issue of Home Energy magazine documented the difficulty and cost to raters trying to secure general liability and professional liability insurance. The magazine found that when raters could find insurance the average cost of general liability was $1,623 and $6,077 for professional liability insurance. This is a concern because of the liability exposure that a rater faces from potential damage to a property during the inspection or errors or omissions in making recommendations. Many builders or program sponsors require insurance from raters in order to do business.
The RESNET business owners package annual premium will vary by state but will not exceed $500 annually. This is a real bargain for raters. Not only it is 69% less expensive that the average annual premium for general liability reported in Home Energy but it also includes property loss coverage
The RESNET professional liability coverage has an annual premium averaging $2,700 (55% less than the average reported in Home Energy).
Both the business owners and professional liability premiums can vary depending on the size of the rating enterprise and the nature of its operations. Raters, rating providers, rater training providers and rating software developers are eligible for this coverage. For more information click on http://www.natresnet.org/insurance/default.htm
RESNET urges the rating industry to be properly insured. There are two basic types a rating services a business needs to carry, general liability insurance and professional liability insurance. General liability insurance is the most basic form of commercial insurance. The coverage is limited to liability claims of bodily injury or property damage. Coverage is provided for accidents at your work site or at a customer location. Professional liability insurance protects a business from malpractice and errors or omissions claimed by a customer. Such coverage is needed when the potential damage can exceed the value of the services being provided.
RESNET members can take advantage of this affordable insurance coverage by clicking on http://www.natresnet.org/insurance/application.htm They will be sent an application for coverage by JR Parck, Inc. and the company will assist the raters’ business with the application process. If you are not currently a member of RESNET you can join on line at http://www.natresnet.org/inside/mem_form.asp?type=Rater
Residential Energy Efficiency Tax Credits One Step Closer to Reality:
Senate Passes Energy Tax Credits
The chances of residential energy efficiency tax credit becoming law moved forward on May 11 when the Senate voted 92 to 5 the Senate passed S. 1637. The "Jumpstart our Business Strength" or "JOBS" bil, S. 1637 contains energy tax credits including provisions for new and existing homes. The energy tax language passed by the Senate is on www.senate.gov/~finance/sitepages/leg/leg040504.pdf. The new homes provision is on pages 670 - 683 and the provisions for existing homes on pages 724 - 735. Action on the legislation now goes to the House. If passed by the House the bill will go to the President for signature. If the House passes a different version of the bill a conference committee will be formed to try to develop a compromise.
Mark Your Calendar! 2005 RESNET Conference - February 28 - March 2, 2005 -
Plaza San Antonio Hotel, San Antonio, Texas
The RESNET Conference is the premier national forum on home energy ratings, residential energy efficiency financing, and building performance business development. RESNET has posted a 2005 RESNET Conference site at http://www.natresnet.org/conference/default.htm The site includes information on:
- Conference Sponsorship Opportunities
- Conference Registration
- Conference Hotel Reservation
- Conference Logistics
- The Host City, San Antonio
June Member News
+ RESNET Undertakes Minnesota Rater Business Development Training
+ Claudia Ahrens Brovick Added to RESNET Team
+ New E-Star Colorado Team Member
+ EEBA 2004 Building Solutions Conference
+ Request for Proposals - Residential
Heat Pump Marketing Research
+ The Great Capitol Hill Debate
Newly Accredited Rating Providers
+ 1st Rate Building & Energy Consulting, LLC (Louisiana, Oklahoma & Texas)
Renewed Accredited Rating Providers
+ Energy Rated Homes of Louisiana
+ EnergySmiths
+ Tucson Electric Power Company
View these updates at http://www.natresnet.org/accred/registry.htm
Newly Accredited Rater Training Providers
+ Conservation Services Group
+ TexEnergy Solutions
Renewed Accredited Rater Training Providers
+ Energy Rated Homes of Louisiana
View these updates at http://www.natresnet.org/accred/training.htm
+ 1st Rate Building & Energy Consulting, LLC
+ Climax Home Performance
+ Energy Management Services
+ Maximum Performance Housing, Inc.
View these new members listings athttp://www.natresnet.org/dir/members/default.htm
New Photos of Housing Failures Added to RESNET Web Site
RESNET's web site includes a page of photos documenting housing failures that could have been avoided with a home energy rating. The page has been update to include examples of:
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Improperly installed flashing
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Deteriorating paint
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Poor water proofing below grade
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Improper duct work under slab
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RESNET is your information source on the latest developments in the dynamic field of residential energy efficiency financing. Residential energy efficiency and housing industry professionals find RESNET Notes as an indispensable tool for planning and implementing home energy rating, energy mortgage, and market-drive residential energy efficiency programs. Join RESNET today!
You can join RESNET on-line at http://www.natresnet.org/inside/membership.htm
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Last updated on 05/28/04.