XL Insurance, the global insurance operations of XL Group plc, and Jorgensen & Company, a specialist professional liability managing general underwriter, announced a joint underwriting agreement to provide Accountants' and Consultants' Professional Liability Insurance ["APL"].
According to Don Allard, Chief Underwriting Officer of XL Insurance's Select Professional group, "XL Insurance works with program managers who have dedicated and proven expertise in the markets they serve. Jorgensen's approach, through its CPAGold™ program, exemplifies the focused industry-specific approach that XL values. Our collective professional liability underwriting expertise will serve accountants' professional liability needs well, providing them with not only quality coverage but loss prevention services to aid in their risk management efforts."
"This is a substantial upgrade on the quality of coverage and service provide to our members," said Rickard Jorgensen, President of Jorgensen & Company. "XL is a strong and experienced partner-insurer and this is a culmination of a relationship that has developed over the past five years."
Mr. Jorgensen added: "The risks faced by accountants are increasingly more complex. XL has developed a product that addresses and anticipates these exposures and will provide additional loss prevention services which exceed those presently available in the marketplace."
CPAGold™ has been with Jorgensen & Company's current partner-insurer since 2003 and the move to XL has the full support of the group's partner-producer network. In its new relationship with XL Insurance, Jorgensen & Company will be the exclusive source for APL coverage to accounting firms outside the major international firms. Jorgensen & Company specializes in firms of up to 50 CPAs but has the capability to underwrite larger regional firms.
About Jorgensen & Company
Founded in 1994, Jorgensen & Company is a managing general underwriter that offers professional liability to a diverse selection of professional firms. The APL program is branded CPAGold™ and is written via the Professional Advisers' Purchasing Group, Inc. The program is offered in all states except Alaska. The program website is www.cpagold.com.
About XL Insurance
The XL Insurance companies provide professional liability insurance on both a primary and excess basis to private and publicly-traded companies that count on our underwriting expertise and superior financial strength. XL Insurance's Select Professional group works with program managers, agents, brokers and wholesalers to address the professional liability insurance needs of small to mid-size service providers including lawyers, consultants, TPAs, ad agencies, real estate agents, insurance agents, technology companies and non-medical service providers. Coverages are written on Greenwich Insurance Company.