The Navigators Group, an international insurance holding company, on Monday introduced APL InNAVation(sm) Accountants Professional Liability (APL) policy for accounting firms.
âThe accountants professional liability marketplace is underserved,â Brian Braden, Vice President of Navigators Pro, a division of Navigators Management Company, said in a prepared statement. âThere is a need for innovative insurance solutions that will respond to covered loss for relevant professional services performed by today's accounting firms.â
The APL InNAVation(sm) provides coverage for accounting firms, their partners, accountants and staff who are legally obligated to pay covered losses resulting from rendering or failing to perform their duties. A broad definition of professional services includes services performed in an insured's capacity as an accountant, as well as related professional services in information technology, financial planning and management consulting. The policy is specifically designed to accounting firms with 1-50 accountants and employed professionals. Limits of liability available are up to $10,000,000 for acceptable insureds, based upon underwriting evaluation.
The APL InNAVation(sm) is underwritten by Navigators Insurance Company and NIIC Insurance Company, which are both rated âAâ (Excellent) by A.M. Best. The policy is limited to eligible risks, subject to Navigators' underwriting evaluation.
Customers should consult their insurance broker for underwriting requirements and eligibility, and review the policy for actual coverage, limitations, restrictions, exclusions, terms and conditions. More information is also available online at www.managementliability.com/.