EXTON, Pennsylvania,
May 11, 2016 /PRNewswire/ -- XL
Catlin's Design Professional insurance business has enhanced its
smartADVANTAGE professional liability insurance policy, providing
increased limits of liability and improved policy terms for
architectural and engineering firms in the US with annual fees of
$2 million or less.
According to Doug Strong, Chief
Underwriting Officer of XL Catlin's Design Professional group,
"Firms in this segment face the same professional liability issues
that mid-to-larger size A/E firms do. We've enhanced our
smartADVANTAGE policy to keep pace with firms' risk management
needs, keeping pace with litigation and claims trends we see
affecting their operations and potentially their bottom line."
The smartADVANTAGE policy enhancements include:
- One, two and now, three-year policy term
- Limits up to $3 million, boosted
from $2 million, which includes
excess options for specific job, client or multiple projects
- Deductibles of $0 to $35,000
depending on firm size
- Dollar One Defense
included—defense costs not subject to deductible
- Full prior acts coverage beginning the third consecutive year
of coverage
- One Time Aggregate Deductible—at no additional cost.
- "Specialist" premium credit for firms with 3 or less project
types
The smartADVANTAGE policy is provided by XL Catlin insurance
company, XL Specialty Insurance Company.
XL Catlin's Design Professional business provides professional
liability insurance for architects, engineers and design
consultants. Coverage is available for firms of all sizes and
disciplines. XL Catlin's design professional coverage is
accompanied by a variety of loss prevention assistance and risk
management assistance including continuing education courses and
access to XL Catlin's Contract eGuide to help firms incorporate
strong contract language.
About XL Catlin Insurance Operations
The XL Catlin insurance companies offer property, casualty,
professional, financial lines and specialty insurance products
globally. Businesses that are moving the world forward choose XL
Catlin as their partner. To learn more,
visit xlcatlin.com.
About XL Catlin
XL Catlin is the global brand used by XL Group
plc's (NYSE:XL) insurance and reinsurance companies which
provide property, casualty, professional and specialty products to
industrial, commercial and professional firms, insurance companies
and other enterprises throughout the world. Clients look to
XL Catlin for answers to their most complex risks and to help move
their world forward. To learn more, visit xlcatlin.com.
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SOURCE XL Catlin