London American Professional Liability, LLC introduces a new Accountants Professional Liability Program

February 28, 2007

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
Ph 201.944.7000
or visit the company’s website at

Media Contact:
Zane Carson, Director of Marketing
London American Risk Specialists, Inc.
Ph 713.977.7726

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