Insurance Program Results

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Accountants Professional Liability to Stagnate?

Crittenden Insight

Crittenden Insurance Program Directory

Accountants Professional Liability

Carrier (Administrator)

Appetite/Distinguishing Coverages

Distribution/Access

Crittenden’s Customer Service Rating*

CAMICO Mutual Insurance Co.

Small to large CPA firms. Small firms with limits up to $2 million are written on CAMICO Mutual paper while midsize to large firms with limits of $3 million or higher are written on W.R. Berkley paper via Berkley Alliance Managers. Prior acts available for accounts with continuously maintained professional liability coverage. Five percent premium credit when choosing exclusionary suit-for-fees endorsement. Additional products available include employment practices liability, cyber, business owner’s policy, travel policy, personal umbrella and work comp. Limits available up to $15 million.

Agents

4 Stars

Great American
(Herbert H. Landy)

Accountants, tax preparers, enrolled agents, bookkeepers, CPAs. Typically covers firms with on to 25 employees. EXPRESS application available online for small firms. Broad network security coverage up to $2 million and employment practices and discrimination coverage available by endorsement. Limits available up to $5 million.

Independent Agents

5 Stars

CNA
(Aon)

CPA firms. Offers three plans depending on size of firm. Expanded coverage under Premier Plan (midsized firms) offers network risk and privacy claim endorsement, employee theft, among other coverages. Limits up to $1 million (small firms) and $1 million/
$3 million (midsize firms).

Direct

4 Stars

Philadelphia

CPAs, bookkeepers, enrolled agents, non-CPA, tax preparer as well as services performed as a notary public, trustee, receiver, consultant, executor or in connection with American Institute of Certified Public Accountants or other state society. Limits up to $3 million.

Independent Agents

5 Stars

W.R. Berkley
(Monitor Liability Managers)

Small to midsized local and regional accounts, including accounting firms, business consultants, tax preparers, bookkeepers, private company and nonprofit auditors and compilation services. Primary and excess available. A 50 percent deductible credit available for use of mediation or non-binding arbitration up to $25,000. Limits up to $5 million.

Through Lockton Affinity or Mercer

3 Stars

Liberty International Underwriters
(Forrest T. Jones)

Firms with up to $5 million in annual revenue. Optional coverage includes employment practices defense, outside organization D&O claims expenses, employee dishonesty endorsement, and privacy and network security risk endorsement. Limits vary by state.

Independent Retail Agents

4 Stars

Travelers

Accounting professionals including bookkeepers, enrolled agents and tax preparers. Small and mid-sized accounting firms. Policy can include network and information security offense coverage, security breach remediation and notification expenses, investment advisor coverage, personal fiduciary coverage, and crisis event coverage.

Brokers and Agents

3 Stars

The Hanover

Small accounting firms with revenues from $50,000 to $10 million including bookkeepers, tax preparers, investment advisors, personal fiduciary or trustee advisors, arbitrators, enrolled agents, and notary publics. Broadening endorsement for those who provide services as life insurance agent, registered representative or real estate agent. Network and information security breach coverage available. Other policy options include employment practices and discrimination, crisis event coverage, and privacy event coverage. Additional coverage available includes business owner’s policy, commercial auto, work comp, umbrella and inland marine.

Independent Agents

4 Stars

QBE
(Jorgenson & Co.)

Firms with up to 50 CPAs, but can write large firms. Average firm size is about seven CPAs. Policy enhancements include client notification and consultants costs, cyber protection, discriminatory complaint regulatory coverage, and reputation protection coverage. Optional endorsements include registered representative and registered investment advisers endorsements, client identity theft endorsement, PCAOB investigation coverage, fiduciary coverage, part-time legal services endorsement, valuation services endorsement, IRS penalties endorsement, and Internal Revenue Code 7216 penalties endorsement. Limits up to $10 million.

Experienced Producers

4 Stars

Argo Pro

Main street accounting firms including some firms that perform public audits for small capital companies (less than $250 million in revenue); excess only for firms with revenue greater than $15 million. Definition of claim includes privacy and network security breach. Limits up to
$5 million.

Brokers

3 Stars

General Star
(Pearl)

Tax preparers, bookkeepers and small accounting firms on Premier policy while firms with up to 100 professionals available on Premier Plus policy. Coverage for review work available on Premier form. Equity Plus Endorsement includes moonlighting tax preparation services. Network and privacy protection available. Limits up to
$5 million for Premier Plus accounts.

Agents

4 Stars

Markel
(All Risks)

CPAs, enrolled agents, general accounting practices, tax preparation firms, bookkeepers, part-time practices. Defense outside limits available, first $7,500 in claims expenses paid by carrier. Minimum premium is $500. Limits up to $5 million.

Brokers and Agents

5 Stars

The Hartford
(Target Insurance Services)

Full-time, private accounting firms with one to 50 professionals including CPAs, public accountants, enrolled agents, tax preparers and bookkeepers. Coverage includes innocent insured, newly acquired entities with five or fewer professionals, network security and theft of data, subpoenas, defendants reimbursement, disciplinary proceedings, and discrimination defense. Minimum premium is $500. Limits up to $5 million

Brokers and Agents

3 Stars

AIG
(B&B Protector Plans)

Small to midsize firms with up to $10 million in revenue. Regulatory inquiry/disciplinary proceedings, employment practices defense coverage available. Network security and privacy available via endorsement. Additional products available include defense outside limits, employment practices liability, nonprofit D&O defense limit, employee dishonesty coverage and optional extended reporting period. Limits up to $5 million.

Agents

4 Stars

James River

Accountants/CPAs, bookkeepers, tax preparers and firms with less than 15 professionals on staff. Limits up to $5 million primary or excess.

Appointed Brokers

5 Stars

Rockhill Insurance Group
(NAPLIA)

Firms of five to 50 professionals. Employment practices liability, employee dishonesty, cyber liability and fiduciary available. Can manuscript endorsements if needed. First-party cyber up to $50,000 and additional $50,000 for defense coverage, regulatory privacy coverage available up to $10,000 with no deductible, regulatory coverage available up to $100,000. Limits available up to $5 million.

NAPLIA Agents and Specialty Brokers

5 Stars

United States Fire
(AmerInst Professional)

Small and midsize accounting firms. Prior acts available for qualified firms. Limits up to $5 million.

Direct

3 Stars

Source: Crittenden Research Inc.(TM)

 

Business Auto

Administered By: Zurich

Distribution: Carrier Direct

Industries:

Accountants & Accounting Services, Commercial Auto, Delivery/Courier Service, Distribution Risks, Trucking, Trucking (Local/Intermediate), Warehouses

Carriers: Zurich

Coverage: Cargo, Commercial Auto, Excess, Property, Umbrella/Excess

Limits: up to $5 Million ((Liability-Federal/State Filings when Required))

Commercial Surety

Administered By: RLI

Distribution: Direct/Broker

Industries:

Accountants & Accounting Services, Advertising/Printers/Authors, Banks, Brokers/Dealers, Miscellaneous Risks, Workers Compensation

Carriers: RLI Insurance Co.

Coverage: Surety

Limits: up to $90 million (bonding capacity to public and private companies )

CPA Protector Plan

Administered By: B&B Protector Plans, Inc.

Distribution: Program Administrator

Industries:

Accountants & Accounting Services

Carriers: AIG, New Hampshire Insurance Co.

Coverage: Cyber Liability, E&O, Professional Liability

Limits: up to $5 million

Cyber Protector Plan

Administered By: B&B Protector Plans, Inc.

Distribution: Program Administrator

Industries:

Accountants & Accounting Services, Dentists, Lawyers, Optometrists, Physicians

Carriers: Beazley Insurance Co. Inc.

Coverage: Cyber Liability, Data Security, Privacy Liability/Notification Expense, Regulatory Liability

Limits: up to $2 million/$4 million

Elite Comp

Administered By: B and B Programs

Distribution: Program Administrator

Industries:

Accountants & Accounting Services, Architects & Engineers (A&E), Educational Risks (School Administrators), Financial Institutions, Hospitality (Hotels/Motels), Lawyers, Physician Groups, Physicians, Workers Compensation

Carriers: Nova Casualty

Coverage: Employment Practices Liability (EPL), Excess, Umbrella/Excess, Workers' Compensation

Limits: up to and over - $25 Million (Property coverage), up to - $10 Million (Excess limits "We can place coverage as high as a client would like to pay".), up to - $1 Million (Primary limits)

Hiscox CyberClear

Administered By: Hiscox USA

Distribution: Carrier Direct

Industries:

Accountants & Accounting Services, Advertising/Printers/Authors, Consultants/Consulting Risks, Education & Nonprofit, Energy Companies, Hospitality (Hotels/Motels), Lawyers, Nonprofit Organizations, Small Businesses, Technology Risks

Carriers: Hiscox Insurance Co. Inc.

Coverage: Cyber Liability

Limits: up to $10 million (Across the board, with no standard sub-limits)

 

Business Insurance Coverge

Administered By: Selective

Distribution: Carrier Direct

Industries:

Accountants & Accounting Services, Answering Services, Auto Service and Repair, Auto/Car Dealerships, Bowling Centers, Churches/Religious Institutions/Organizations, Equipment Dealers, Home Healthcare, Retail, Small Businesses

Carriers: Selective Insurance Group Inc.

Coverage: Abuse & Molestation Liability, Business Income/Extra Expense, Business Owners Policy (BOP), Commercial Auto, Crime, Data Security, E&O, Fidelity, Flood, General Liability, Inland Marine, Management Liability, Product Recall, Property, Surety, Umbrella/Excess, Workers' Compensation

Limits: Call for - Limits

Businessowners Policy

Administered By: Providence Mutual

Distribution: Carrier Direct

Industries:

Accountants & Accounting Services, Apartments, Artisan & Trade Contractors, Beauty Salon/Barber Shop, Community Associations, Contractors, Distribution Risks, Landscape Design/Landscaping/Lawn Service, Laundry Services/Dry Cleaning, Lawyers, Lessors Risk, Manufacturers/Manufacturing Risks, Restaurants, Retail, Self-Storage Facilities, Small Businesses

Carriers: Providence Mutual Fire Insurance Co.

Coverage: Business Interruption, Commercial Property, Crime, Cyber Liability, Data Security, Employment Practices Liability (EPL), Equipment Breakdown, General Liability, Identity Theft

Limits: up to $2 million/$4 million (Liability)

CPA ProSecure

Administered By: NAPLIA

Distribution: MGA

Industries:

Accountants & Accounting Services

Carriers: Rockhill Insurance Co.

Coverage: Cyber Liability, Employment Practices Liability (EPL), Fiduciary Liability, Professional Liability, Theft

Limits: up to $10,000 (Regulatory Privacy), up to $50,000 (Defense), up to $50,000 (Cyber Liability), up to $50,000/$100,000 (Disciplinary & Regulatory), up to $5 million (Program)

Jake's Test Program

Administered By: Jake's Test

Distribution: MGA

Industries:

Abstracting Services, Accountants & Accounting Services, Acupuncturist, Adoption/Foster Services & Facilities

Carriers: ACE American Insurance Co.

Coverage: Abuse & Molestation Liability, Accident & Health, Accidental Death & Dismemberment

Limits: $1000 - $5000

Miscellaneous E&O Coverage

Administered By: JLT Facilities, Inc

Distribution: Program Administrator

Industries:

Accountants & Accounting Services, Architects & Engineers (A&E), Artisan & Trade Contractors, Banks, Brokers/Dealers, Data Processing & Management, Insurance Companies, Real Estate Agent/Broker, Real Estate Appraiser, Title/Escrow Agents

Carriers: Beazley Insurance Co. Inc.

Coverage: Crime, General Liability, Management Liability, Professional Liability

Limits: up to $5 Million

ProDefender (CPAs)

Administered By: Forrest T. Jones

Distribution: Program Administrator

Industries:

Accountants & Accounting Services

Carriers: Liberty International Underwriters

Coverage: Professional Liability

Limits:

Professional Liability (Accountants)

Administered By: CAMICO Mutual Insurance

Distribution: Carrier Direct

Industries:

Accountants & Accounting Services

Carriers: CAMICO Mutual Insurance Co, W.R. Berkley Corp.

Coverage: Professional Liability

Limits: up to $15 million

Test Program #2

Administered By: Jake's Test

Distribution: MGA

Industries:

Abstracting Services, Accountable Care Organizations (ACOs), Accountants & Accounting Services, Acupuncturist

Carriers: James River Insurance Co.

Coverage: Abuse & Molestation Liability, Accident & Health, Accidental Contamination, Accidental Death & Dismemberment

Limits: $1000000 - $5000000