Group Personal Excess Liability

The AICPA-endorsed Group Personal Excess Liability Plan provides excess personal liability protection for mid and large size accounting firms. The policy provides excess protection over an individual's auto and homeowner insurance policies and legal defense for covered claims.

In today's litigious society, the personal act of a partner such as an automobile accident can become a firm problem. The financial impact and mental stress arising from a personal lawsuit can be significant and can impact the ability of the partner to provide high quality professional services for the firm.

Here are the key features to consider:

Eligibility - All partners and key individuals are automatically covered under the policy providing much needed protection for the individuals and the firm. There are no individual underwriting requirements for firm personnel. It is highly recommended that firms require all partners to have high limit personal excess liability and this coverage ensures that objective is met.

High Limits - The policy provides the high limit of protection necessary for professionals in today's society with up to $5 million available for each partner. The firm can select different limits of coverage for each class of individuals. Basic limits of personal liability begin at $1 million for each firm member.

Uninsured Motorists Protection - Optional uninsured motorist's coverage (UMC) providing $1 million limit per individual is also available. UMC provides protection for an insured that sustains bodily injury from an automobile accident with someone who has inadequate or no liability insurance.

New Firm Personnel - All new partners and key individuals can be added to the policy at any time, by notification and without meeting any individual underwriting requirements.

Single Premium - A single premium rate for each individual covers all of their qualifying risks and there is no premium surcharge or coverage limitation for youthful operators residing in an insured's household. The policy has a minimum annual premium of $10,000 per firm. A variety of coverage options, limits and classes of individuals to be covered by the firm are available, providing an attractive comprehensive policy for each firm.

Contact Information - To obtain a quote or additional information contact:
Aon Insurance Services
James R. Harding CPA, CPCU, CLU
199 Water Street
New York, NY 10038

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