The Hartford Introduces Professional Liability Policy for Business Services

The Hartford Financial Products, a unit of The Hartford, has introduced The Hartford Professional Choice Liability Policy, a new miscellaneous professional liability policy for firms and their employees involved in the business services industry. The new market is available for market researchers, loss control specialists, franchisors, contest managers, advertising and public relations firms, third party administrators, temporary staffing firms, trustees and a host of other service businesses.

“No longer is professional liability litigation limited to large companies. A growing number of mid-size and smaller business services firms are on the receiving end of lawsuits related to the work they do,” said Steve Prymas, an assistant vice president of Hartford Financial Products. “Our research shows that 48 percent of these firms have no professional liability coverage, often believing they are too small to need it or that they can’t afford it. Others mistakenly think professional liability is covered somewhere in their regular business policy.”

The Hartford Professional Choice Liability Policy is an “admitted” policy and key policy features include:

* Coverage for personal injury, such as libel and slander, arising from the professional services.
* Coverage for punitive damages, where allowed by law.
* Worldwide coverage.
* Coverage that automatically extends to entities/companies acquired by the insured (subject to certain conditions).
* Coverage extension for expenses for disciplinary proceedings in which a professional is brought before a regulatory body or association.
* Coverage that cannot be cancelled by the insurer, except for non-payment of premium.
* Affordable minimum premiums and minimum self-insured retentions. (Retention refers to the amount of money a policyholder must pay for covered damages and/or claim expenses in connection with each covered event before the insurance begins to pay).

“Sophisticated clients often require the service firms they work with to obtain professional liability coverage from a highly-rated insurance carrier,” noted Prymas. “The Hartford’s A+ rating and state-of-the-art coverage satisfy these demands.”

For more information about The Hartford Professional Choice Liability Policy or The Hartford’s other financial products, brokers or agents can visit www.hfpinsurance.com or call Patricia Fitzgerald at 1-212-277-0457.

In addition, a complete listing of professional services covered by the policy is available on the Hartford Financial Products website: http://www.hfpinsurance.com/misc/misc_market.htm.

Coverage is provided by the member companies of The Hartford and may not be available in all states. Please see policy for actual coverage wording.

Source: The Hartford