XL Insurance has unveiled XLsmartADVANTAGE, a specialized professional liability insurance program specifically designed for small architectural and engineering firms.
“The $11 billion Design Professional industry is largely driven by small firms nationwide with approximately 87 percent of all A/E firms generating $1 million or less in annual revenue,” according to Alex Blanco, chief underwriting oficer of XL Insurance’s Design Professional group.”
The XLsmartADVANTAGE professional liability program offers one or two year policy terms with limits up to $1 million. The program also includes:
- Dollar one defense
- Full prior acts coverage beginning the third consecutive year of coverage
- One time aggregate deductible at no additional cost;
- Up to a 10% premium credit with loss prevention education program completion
- Ongoing education opportunities including receipt of Communiqué, a risk management e-newsletter and online access to loss prevention education programs such as Contract Basics for Design Professionals for continuing education credits.
XLsmartADVANTAGE also offers online access to The XL Insurance Contract Guide for Design Professionals: A Risk Management Handbook for Architects and Engineers, a resource book which covers more than 100 topics.
Source: XL Insurance