The new architects & engineers professional liability policy provides design professionals with professional, pollution and cyber liability coverage, as well as robust risk management services.
PRODUCT: Everest Elevation® Architects & Engineers Professional Liability Policy
COMPANIES: Everest National Insurance Company
BEST RATING: A+ XV
AVAILABILITY: Everest is open to new relationships with wholesalers, brokers and agents.
FOCUS: Everest Insurance® released a new architects & engineers professional liability policy to provide design professionals with professional, pollution and cyber liability coverage, as well as robust risk management services.
“Everest has offered A&E Professional Liability coverage for over 10 years but over the past four years we have dedicated ourselves to becoming a go-to market for A&E coverage," says Joshua Kranz, national practice leader, professional liability, Everest. “This new policy is a big part of that effort and expands and enhances our existing coverage to better meet the needs of our insureds."
Everest offers property, casualty and specialty products, focusing on creating long-term value through underwriting excellence and strong risk and capital management.
COVERAGE DETAILS: Everest Elevation® Architects and Engineers Professional Liability Policy is designed to address the coverage needs of design professional clients in a streamlined format. With a broad definition of professional services, Everest seeks to support clients beyond typical coverages offering a suite of added services.
“It provides state-of-the-market coverage by offering a variety of enhancements for crisis events, disciplinary proceedings, first-party cybersecurity incidents, subpoena compliance and contract review programs," Kranz says.
Coverage highlights include:
- Up to $10-million limits
- Pollution incident insuring agreement with first-party clean-up costs
- Third-party cyber and security incident response
- Crisis event
- Subpoena expenses
- Litigation participation expenses
- ADA, FHA and OSHA regulatory actions
- Robust risk management services, including contract reviews and pre-claims assistance.
- Peer review expense reimbursement
- Mediation credit
- ERP retirement services
UNDERWRITING: Application and policy forms are available on the product webpage and upon request. Foreign risks will be entertained but with limited appetite.
TARGET: All forms of design professionals including architects, civil engineers, mechanical and electrical engineers, land surveyors, interior design and project managers. Design professional clients include residential, commercial, hospitals, schools, shopping centers and water treatment facilities.
COVERAGE AVAILABILITY: Available in all U.S. states. Admitted coverage is currently available in 36 states. Everest has plans to offer admitted coverages in all 50 U.S. states in 2021.
CONTACT: Joshua Kranz, national practice leader, professional liability, Everest Insurance®; 646-746-1960.
Will Jones is IA editor-in-chief.