ACE Advantage® Miscellaneous Professional Liability Policy
The ACE Advantage® Miscellaneous Professional Liability product is designed to provide comprehensive coverage for a wide variety of professional service industries.
Benefits:
- Automatic 60-Day Extended Reporting Provision
- Optional Extended Reporting Provision available for up to three years
- Optional coverage available for:
- Privacy liability arising out of lost computer equipment, network security breaches and identity theft
- Employed Lawyers / In-House Counsel
Coverage:
- Broad definition of "Wrongful Act" with the ability to manuscript the definition of Professional Services
- Broad Definition of damages including:
- Prejudgment and post-judgment interest on that part of any judgment paid
- Punitive and exemplary damages and the multiplied portion of any multiple damage award (where allowed)
- Broad Definition of insured including:
- The entity and its subsidiaries
- Any past or present principal, partner, officer, director, trustee, employee, or general or managing partner or principal (if the entity is a partnership)
- Independent contractors who are natural persons, when performing professional services on behalf of the entity and its subsidiaries
- $5,000 sub-limit for reimbursing Insured for attendance at hearings, depositions, etc. ($250 per day maximum)
- Duty to defend covered claims, not just "suits"