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London American Professional Liability, LLC introduces a new Errors and Omissions Program

July 26, 2006

Fort Lee, New Jersey - London American Professional Liability, LLC (LAPL) a Program Administrator and MGA, introduces a new program for Independent Property & Casualty Insurance Agents Errors and Omissions. The program will be offered on a nationwide basis and is underwritten by LAPL along with an A XV A.M. Best rated insurance carrier.

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This professional liability program is designed for agencies with gross written premiums between $5 million and $250 million. Coverage will be offered on both a primary and excess basis. Eligible agencies include Retailers, Wholesalers, Specialist firms and Hard to Place firms.

Policy Highlights include:

  • Claims made and reported policy
  • Right and duty to defend
  • Personal injury coverage
  • Punitive damages coverage
  • Mediation provision reduces retention
  • Defense costs for disciplinary proceedings up to $25,000
  • Supplemental Limit of Liability for expense reimbursement of $250 per day with a $5,000 aggregate limit
  • Predecessor firm coverage
  • Automatic 60-day Extended Reporting Period

    Limits/Deductibles/Premiums:

  • Up to $5,000,000 each claim / $5,000,000 Annual Aggregate Limit
  • Minimum retention $5,000
  • Minimum premium $10,000 Primary / $5,000 Excess

    For more information, please contact Ed Velasquez, President, London American Professional Liability evelasquez@londonamericantx.com, Ph 201-944-7000 or visit the company's website at www.londonamericannj.com.


    Media Contact:
    Zane Carson
    Director of Marketing
    London American Risk Specialists, Inc.
    713-977-7726
    zcarson@londonamericantx.com

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