National Union Fire Introduces New Professional Liability Policy for Consultants

National Union Fire Insurance Company of Pittsburgh, Pa., a member company of American International Group, Inc. (AIG), has launched a new product designed to address the professional liability exposures of consultants in a variety of industries.

The Consultants Preferred Professional Liability Insurance Policy (Consultants Preferred) insures consultants for claims alleging negligence arising from consulting services. Coverage can be extended to cover the economic losses that are sustained by others as a result of the insured’s alleged negligence. The policy includes a broad definition of consulting services and offers insureds enhanced protection against claims alleging errors and omissions. In addition to providing coverage for legal defense and damage awards, the policy offers coverage for computer attacks arising from the provision of consulting services.

Subject to a sublimit of liability, the Consultants Preferred policy also permits the insured to retain a public relations firm for specific crisis events, such as bankruptcy, mass tort, management crisis, regulatory crisis or other crisis events.

“The Consultants Preferred Professional Liability policy provides a focused, tailored response to the distinct insurance needs of today’s consultants,” said Michael Smith, President of the Professional Liability Division for National Union. “Consultants Preferred enhances the traditional miscellaneous professional liability form by adding coverage for crisis events and the technology risks inherent in consulting. In addition, coverage can be customized for a wide range of consultants, from management consultants to those in retail, technology, marketing, public relations or other fields.”

For more information on Consultants Preferred Professional Liability Insurance, contact your local insurance broker or e-mail professionalliability@aig.com.