Nuts & Bolts: Travelers Bond added miscellaneous professional liability to its line of executive liability products. This E&O coverage provides professional liability for a wide variety of professional service providers, and complements current offerings. It provides coverage for negligence in the performance of services for a fee where a reasonable standard of care is expected. Types of businesses targeted include, consultants, employment agencies, funeral directors, graphic designers, printers and publishers. Available as a claims-made and reported policy that features “duty to defend” and “pay on behalf of” wording, prior acts of coverage and $10,000 defense coverage outside of retention for disciplinary proceedings.
Carrier: Travelers Property Casualty.
States Available: Currently admitted in half the states, expected to be admitted in all states by the end of 2002.
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