Coverage Highlights
• Protection for claims arising from:
– Professional liability
– Cyber liability (including social engineering incidents)
• Coverage for the following supplemental payments:
– Crisis management expenses
– Appearance at proceedings
– Disciplinary proceedings
– Subpoena assistance
• Waiver of subrogation rights when insured agrees to prospectively waive via written contract
• “Soft” hammer clause
• Carveback for bodily injury/property damage resulting from insured’s rendering of or failure to render professional services
• Up to $25,000 deductible credit for voluntary mediation
• Automatic coverage for acquisitions of entities whose revenues are less than 50% of the named insured’s revenues
• Wrongful act includes “personal injury offense”
• Final adjudication for fraud claims
• Punitive and exemplary damages covered, where insurable
• Definition of insured includes independent contractors, interns, volunteers, spouses and domestic partners
• Non-practicing extended reporting period for no additional premium in many circumstances
• Free and unlimited risk management services include:
– Pre-claims assistance, risk management services and engagement letter reviews
Coverage Limits
- Maximum capacity: $5 million primary, $5 million excess
- Minimum deductible: $500
Appetite & Availability
Target risks
- Firms over $1 million in revenue, ranging from solo practitioners to large firms/li>
- Firms that mainly do tax, bookkeeping, compilation, review and non-public audit work
Geographic availability
We can write on an admitted basis in the following states:
- Alabama
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- District of Columbia
- Florida
- Georgia
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Maryland
- Massachusetts
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- Nevada
- New Hampshire
- New Jersey
- New Mexico
- North Carolina
- North Dakota
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Vermont
- Washington
- West Virginia
- Wisconsin
- Wyoming
Coverage is always subject to all of a policy’s terms and conditions. This is a summary of certain key aspects of coverage. Review the policy form for complete terms and conditions. Products are underwritten by U.S. insurers that are members of Argo Group. Some products are only available through an authorized surplus lines insurer.
