Old House needs to be "upgraded"???
This is typical of the vague nature of home inspections. HI's have to find things, yet they can be very vague about what they find. Most are deathly afraid of being sued, so they do not get very specific about certain things, electrical being one of them.
So to answer your question, only the HI who did the "inspection" can answer it, because only he knows what he meant.
Sometimes I feel like if I answer any more questions it is like someone trying to climb over a fence to jump off a bridge and me giving them a boost.