Professional Liability Insurance Coverage is provided on a claims-made basis from New Hampshire Insurance Company, a member company of Chartis Inc. 

 

Express Plan


Select Plan


Applications

 

If you are a large firm or do not otherwise meet the eligibility guidelines for the Express or Select Plans, CPA Protector Plan can assist in placing your firm’s coverage with alternative markets.  



  • The Select Plan is an agent serviced application designed for small to mid-size accounting firms, with CPA ownership and revenues less than $5 million.

    Available limits range from $100,000 to $5,000,000. This program offers a variety of deductible options and limits. Using the numerous policy endorsement options, you will get coverage that is customized to your firm.

    In our litigious society is your insurance up to the job? The CPA Protector Plan is a competitively priced product providing the protection you need against the risk of accounting malpractice claims.

    The Select Plan offers CPA firms (that provide a more diverse array of professional services to a larger and more complex client base) additional coverage options designed to meet individual firm needs. Working with experienced Underwriters, you can customize coverage for your firm by choosing from a selection of additional optional coverage forms, limits and deductibles.

    Premium Discounts are available for firms that continuously renew with the CPA Protector Plan, as well as for those with favorable claims experience, complete risk management training or use engagement letters.

    Optional coverage that may be added by endorsement includes Corporate Identity Protection, Employment Practice Liability Insurance, Employee Dishonesty Coverage and Non-profit Directors & Officers Defense Cost Coverage, Registered Investment Advisor Coverage, Real Estate Agent Coverage and Life Insurance Agent Coverage.

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    Who is Covered
    The firm’s partners, principals, officers, directors, members and it’s employees. The policy includes special provisions for lawful spouses, as well as contract, per diem or leased personnel.

    Coverage Territory
    The United States of America, its territories and possessions, Puerto Rico and Canada.

    Professional Services Definition
    The definition does not limit the firm to traditional accounting services. Coverage applies to advice given or services performed on behalf of the firm for a fee.

    Deductible Reduction
    The policy deductible may be reduced by 50% (up to $50,000) through use of claims mediation or through use of engagement letters.

    Innocent Insured
    If coverage is excluded for certain Insureds due to (1) dishonest, criminal, malicious of fraudulent acts (2) failure of another Insured to give notice to the Company of a Claim or (3) misappropriation, commingling or defalcation of funds or other property, innocent Insureds are still protected.

    Acquisition or Merger
    Automatic coverage for Newly Acquired Entities

    Loss Amounts
    Include pre-judgment and post judgment interest and fines and penalties assessed against clients by the IRS or any other state or municipal taxing authority.

    Liberalization Clause
    Broader Insurance provisions adopted by the Company during the Policy Period are automatically extended to all policies in effect once the provision has been approved by appropriate authorities if there are no premium charges for the coverage.

    Automatic Extended Reporting Period
    Sixty (60) day extended reporting period is provided when the policy terminates.

    Optional Extended Reporting Period
    An endorsement may be purchased to extend the policy reporting periods. Optional Extended Reporting Period endorsements are bilateral and automatically reinstate the Each Claim limit of liability.


    For more information about the features of the professional liability policy and the optional coverages see Coverages.

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