PRODUCT: Accountants professional liability insurance

COMPANY: Landy is a national program administrator for Great American Insurance.

BEST RATING: A+

AVAILABILITY: Landy requires producers to register with the company. There are no minimum production requirements.

FOCUS: As the first insurer to put together a professional liability program exclusively for accounting professionals, Landy has been writing business in accountants professional liability insurance since 1962—a continuous underwriting period longer than any other company in the country. So it’s not surprising that the agency’s accountants professional liability program demonstrates a “unique commitment to underwriting the professionals in that industry,” says John Torvi, vice president of marketing and sales at Landy.

Landy’s accountants professional liability product offers a host of features that should be attractive to independent agents and their commercial clients, including an express application featuring just nine true or false questions. “If the client can answer true to all nine questions, they’re automatically qualified for coverage—there’s no further underwriting,” Torvi explains. That means serious ease of use for client and producer alike: “the price and coverage options are right on the application,” Torvi says. “It’s so easy.”

Applicants who cannot answer true to all nine questions are free to use Landy’s standard application procedure. But they’ll receive the same policy form regardless—a significant benefit in an industry where “a lot of times tax preparers get really stripped-down coverage,” Torvi says. “That’s not the case with what we offer.” Torvi also notes the usefulness of Landy’s free and confidential risk management hotline, which clients can utilize if they need to speak with an attorney.

UNDERWRITING: Policy limits up to $5 million/$5 million. Diminishing deductible for claims-free longevity and early claim resolution. Coverage includes disciplinary proceedings and security incident reimbursements up to $10,000 per incident or $20,000 per policy period; subpoena assistance up to $25,000 per policy period; public relations crisis expenses up to $10,000 per crisis or $30,000 per policy period; and unlawful use of or embezzlement of funds up to $50,000 per policy period. Available options include first-dollar defense, aggregate deductible and claim expenses both in and out of the limit. Express program includes two-year policy option, which locks in premium and reinstates policy limits.

MINIMUM PREMIUM: $386, except in California.

TARGET: Broad appetite for a wide range of accounting firms, regardless of size. “Great American definitely wants to increase capacity,” Torvi notes. “We have a large appetite and are actively looking to grow the book.”

COVERAGE TERRITORY: All states except LA and AK.

CONTACT: John Torvi, vice president of marketing and sales; Landy, 75 Second Ave. Needham, MA 02494; 781-292-5417.