Miscellaneous Professionals Insurance – Alta Pro Insurance Services

"A big part of financial freedom is having your heart and mind free from worry about the what-ifs of life."

Suze Orman

Miscellaneous Professionals Liability Insurance

Alta Pro offers competitively priced Miscellaneous Professionals coverage in Michigan, Ohio, Indiana, Illinois, Minnesota, Wisconsin, and Texas with a “A” rated, non- admitted carriers.

States Served

Program Details

Highlights
Coverage Options
Eligible Risks

Supplementary Payments – No Deductible Applies
Subpoena Expense: $10,000 per policy period if Insured requests the Company’s assistance
Disciplinary Action: $25,000 per policy period and Company will provide defense
Loss of Earnings Reimbursement: $500 per day for each Insured up to maximum$10,000 per claim and Policy Aggregate of $25,000
Insolvency Coverage – Can Be Amended By Endorsement
B+ or Better by AM BEST at time of placement. Coverage for member insurers of the State Guaranty Fund or Guaranty Association in the State or States of Domicile of the subject risk, risk or such entities; or were guaranteed by a governmental body of bodies and/or the coverage was placed with an insurance carrier through a state established residual market insurance program; or the coverage was placed with a County Mutual reinsured by carriers rated by A.M. Best as A or higher.
Extended Reporting Period percentages based on annual premium:
One Year – 100%
Two Years – 150%
Three Years – 200%
Five Years – 300%

Coverage Options:
Damages-only deductible (first dollar defense) is available if: Firm has not had more than one claim with incurred exceeding $5,000 in past three (3) years.
Deductible Minimums start at $1,000. AmTrust does have financial requirements for insureds wanting higher than normal deductible options.
Limits up to $5,000,000

P&C insurance agencies engaged in the marketing, selling and servicing of insurance policies. Agencies selling life, accident and health products will be eligible, provided the income from these products is less than 50% of the total Agency commission income.
Maximum revenue to be eligible for the program are:
Up to $10,000,000 commission income for P&C agents.
Up to $5,000,000 net retained commissions for MGAs, wholesalers, PAs and MGUs.
Energy, Long Haul Trucking, Professional Liability, and Wet Marine are surcharged based on the percentage of business. Long Haul is defined as over 300 miles in a day/ overnight trips.
Ineligible Classes:
Reinsurance intermediaries
Captive insurance agencies
Third party administration and administrators
Actuarial services
Real estate agents and brokers
Stand-alone insurance consultants and marketing firms
Variable life and viatical placements
Insurance companies and other risk bearing entities
MGAs, PAs or MGUs that handle claims with coverage and settlement discretion over terms and/or conditions or appoint sub agents with binding authority.

For those firms that do not fit within the above program guidelines, Alta Pro offers several other highly rated insurance carriers. For hard to place risks, such as firms with adverse claims histories, Alta Pro Plus can provide solutions.

Downloads

For More Information Please Contact:

Debbie Ramos
Vice President of Underwriting
734-838-9346
dramos@altaproinsurance.com

Downloads

For More Information Please Contact:

Debbie Ramos
Vice President of Underwriting
734-838-9346
dramos@altaproinsurance.com

"A big part of financial freedom is having your heart and mind free from worry about the what-ifs of life."

Suze Orman

Miscellaneous Professionals Liability Insurance

States Served

Program Details

For those firms that do not fit within the above program guidelines, Alta Pro offers several other highly rated insurance carriers. For hard to place risks, such as firms with adverse claims histories, Alta Pro Plus can provide solutions.

Downloads

For More Information Please Contact:

Downloads

For More Information Please Contact:

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