Professional liability policies provide coverage for the financial consequences of negligence or errors in the delivery of certain "professional" services/business activities. Historically, this type of policy was only available for professions such as accounting, law, engineering, and healthcare.
AmWINS Brokerage has developed an exclusive professional liability program specific to the automotive industry. In this program, the coverage is triggered by an incident that arises out of, is related to, or is incidental to "the purchase, sale, repair, finance, title or lease of vehicles, which includes financing services, loan services, tag and title services, insurance services, finance and loan document services or documentation preparation services for others for a fee."
Other policies for this industry, such as garage liability, do not address the dealership exposure robustly, sub-limits are minimal and coverage "trigger" offered is narrowly defined. This new standalone E&O program provides more robust balance sheet protection particularly as it relates to single plaintiff or class action lawsuit claims.
Minimum Premium: $15,000 per million
Automotive, Dealer, Car, Professional, Purchase, Title, Financing, Insurance, Loan, Tag, Title, License, Protection, Garage, Negligence
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