Fort Lee, New Jersey – London American Professional Liability, LLC (LAPL), a Program Administrator and MGA, introduces a new program for Accountants Professional Liability. The program is being offered in most states and is underwritten by an A XI Excellent A.M. Best rated insurance carrier. This professional liability program is designed to protect Accounting firms with revenues up to $17.5 million and up to 75 professionals.
Policy Highlights include:
- Primary and Excess coverage available
- Punitive damages coverage
- Personal injury coverage
- Predecessor firm coverage
- Defense costs for Disciplinary Proceedings $10,000 (in addition to the policy Limit of Liability).
- Supplemental Limit of Liability for Expense Reimbursement of $500 each day with a $5,000 aggregate limit
- Coverage is extended to independent contractors by agreement of Named Insured and if a fee inures to the Named Insured for subject Professional Services
- Coverage is extended to employees while acting within the scope of their employment duties
- Covered Professional Services include services performed by an Insured:
- in the practice of Public Accountancy including Financial Planning Services
- as a member of a formal accreditation board, standard review or similar professional board or committee related to the accounting profession,
- as an arbitrator, mediator or notary public,
- as an administrator, executor or representative of an estate,
- as a trustee of an individual or family trust.
- Mediation provision reduces retention
- Automatic 60-day extended reporting period
- Optional extended reporting period options are available
- Worldwide coverage for suits brought in the U.S.
- Company has right and duty to defend
- Up to $5,000,000 each claim/$5,000,000 Annual Aggregate Limit
- Minimum retention $5,000 each claim
For more information, please contact:
Ed Velasquez, President,
London American Professional Liability
or visit the company’s website at
Zane Carson, Director of Marketing
London American Risk Specialists, Inc.
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