General Star Management Co. will begin offering a new accountants professional liability program through Pearl Insurance effective Jan. 28.
The program will be written on an admitted basis in 28 states with additional states anticipated in the future. Limits will be available up to $5 million/$5 million.
The new product will automatically include specialized coverages designed for accountants, such as privacy and security, employee dishonesty, disabled partner replacement, production of documents and trial and hearing or arbitration proceedings. In addition, protection for administrative proceedings up to $10,000 per insured can be purchased.
The Peoria, Ill.-based Pearl Insurance will be the program administrator and has 15 years of experience with covering accountants.
The coverage will be backed by the Stamford, Conn.-based General Star National Insurance Co., which is licensed in the District of Columbia, Puerto Rico and all states except Connecticut, where it is an eligible surplus lines insurer.
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