Navigators Pro, a division of Navigators Management Co., has introduced a new professional liability policy for accounting firms.
Called the APL InNAVation, the policy provides coverage for accounting firms, their partners, accountants and staff who are legally obligated to pay covered losses resulting from rendering or failing to perform their duties. A broad definition of professional services includes services performed in an insured’s capacity as an accountant as well as related professional services in information technology, financial planning, and management consulting.
The policy is specifically designed for accounting firms with 1-50 accountants and employed professionals. Limits of liability available are up to $10,000,000 for acceptable insureds based upon underwriting evaluation.
The APL InNAVation is underwritten by Navigators Insurance Co. and NIC Insurance Co., which are both rated “A” (Excellent) by A.M. Best.
“The accountants professional liability marketplace is underserved. There is a need for innovative insurance solutions that will respond to covered loss for relevant professional services performed by today’s accounting firms,” said Brian Braden, vice president of Navigators Pro.
The Navigators Group, Inc. is an international insurance holding company with insurance company operations, underwriting management companies, and operations at Lloyd’s of London. Headquartered in New York City, Navigators has offices in the United States, the United Kingdom and Belgium.
Source: Navigators Pro