What is the PIA/Penn National Insurance agents’ umbrella program? Written by agents for agents. ■
Comprehensive excess insurance protection
■
Packaged in one easy-to-manage policy
■
Affordable rates
Coverage
Payment Plans & Fees
Coverage limits (higher limits may be available)
Flexible payment plans for any policy
■ Up to $10 million for commercial and professional liability
■ Full payment (no installments)
■ Up to $5 million for personal exposures of owners and officers
Core Coverage ■ Business operations — broadened coverage and excess limits protection for agent/agency’s business and employees for liability incurred as a result of normal business activities. Policy provides coverage over an agency’s commercial general liability or businessowners, employers liability and commercial auto.
Key Features
Coverage features
■ Excess over underlying E&O
■ Personal injury
■ Personal umbrella coverage for owners, partners and officers, including members of their families. Sub-limit does not affect total limit.
■ Libel, slander and advertising offense
■ Employment practices liability providing excess limits on a following-form basis. Sub-limit does not affect total limit. ■ Excess over business coverage ■ Defense coverage outside policy limits ■ Affordable minimum premiums for 9 employees or fewer ■ One source for all excess coverages ■ Blanket protection for most risks ■ Flexibility to meet the needs of any agent, including flexible pay plans
Rating ■ Staff rating for agencies with 9 or fewer employees ■ Excess rated for agencies with 10+ employees or special acceptance categories ■ Refer to state rate pages
■ First-dollar legal defense provided for claims not covered by underlying insurance ■ Professional liability — excess limits protection on a following-form basis for errors and omissions in the course of the agency’s business as an insurance professional. Coverage can be written over occurrence or claims-made forms of a variety of primary E&O carriers.
Coverage features on a following-form basis ■ Full prior-acts coverage ■ Covers any person acting in a capacity as a real estate agent or notary. ■ Options unique to this program: • Personal coverage — broadened and excess personal protection for owners, partners and officers, including members of their families. (Submit ACORD Personal Umbrella Application.) • Employment practices liability — excess limits protection for liability incurred by named insured or employees for wrongful employment practices. Coverage can be written on a claims-made basis over a number of approved EPL carriers. Maximum available as a sub-limit is $2 million. (Submit a copy of underlying EPL application.)
■ Two payments — 50% down, one installment of 50% due three months later ■ 40/30/30 — 40% down, two installments of 30% each due every other month ■ Quarterly — 25% down, three installments of 25% each due quarterly ■ Monthly — 20% down, five installments of 16% each due monthly
Available payment plans by premium level ■ Premium up to $1,000 — full payment or two payments ■ Premium of $1,001 to $5,000 — full payment, two payments, 40/30/30 or quarterly ■ Premium greater than $5,000 — any payment option
Applicable fees ■ Service fees: No service fee will be added to the initial payment. A $4 service fee will be added to each installment billing.
Contact Us Contact your local PIA producer. To find yours, visit the PIA Main Street Store at www.PIANET.com