The new product offers a number of enhancements designed for the accounting profession, including cyber liability coverage, which responds in the event of a security breach. This coverage extension provides credit monitoring and notification services in the event a covered security breach takes place. Other available enhancements include an early claim resolution incentive and Non Profit Directors & Officers coverage when serving on the board of a qualified entity.
Beginning on November 1, 2011, Navigators Management Company, Inc. and the Herbert H. Landy Insurance Agency are partnering to provide this accountants professional liability product for firms with less than $1 million in annual revenue.
Qualifying firms will enjoy an online "EXPRESS" application that includes an automated pricing function, making the process quick and easy for insureds and producers alike. All firms with revenue greater than $1 million will continue to be serviced through Navigators' open brokerage platform under the management of Christopher Alfieri in New York, NY.
"We are so pleased to offer smaller accounting companies the ease of doing business entirely online in cooperation with Landy, providing access to state-of-the-art technology, custom-tailored coverage and expert sales capabilities," said Reina Gregorio, President of Professional Liability. "We are continuously assessing our product offerings to make sure we meet the needs of our brokers, agents and insureds. Our new accountants professional liability product is further proof of our commitment to that client focus."
Accountants Professional Liability policies are underwritten for U.S.-based companies by Navigators Insurance Company, which is rated "A" (Excellent) by A.M. Best and "A" (Strong) by Standard & Poor's. Please consult your insurance broker and review the policy for coverage limitations, restrictions, exclusions, terms and conditions.
The Navigators Group, Inc. is an international specialty insurance holding company with insurance company operations, underwriting management companies, and operations at Lloyd's of London. Headquartered in New York City, Navigators has offices in major insurance centers in the United States, the United Kingdom and Continental Europe.