"The $11 billion Design Professional industry is largely driven by small firms nationwide with approximately 87 percent of all A/E firms generating $1 million or less in annual revenue,” according to Alex Blanco, Chief Underwriting Officer of XL Insurance’s Design Professional group. “For these firms, XLsmartADVANTAGE offers quick and easy access to more than 30 years of professional liability underwriting expertise as well as the claims management services and loss prevention programs that have already helped protect profitability and drive growth for many of the nation’s largest design firms.”
Guy LeVan, XL Insurance’s Vice President, said: “Small firms are looking to capitalize on new opportunities as they emerge in our recovering economy. To do so, they need to be well prepared with strong professional liability protection. Strong protection means much more than a competitively-priced insurance policy. That’s why with limited time and resources, small firms gain so much from the claims support and loss prevention education programs that the XLsmartADVANTAGE program offers.”
The XLsmartADVANTAGE professional liability program offers one or two year policy terms with limits up to $1 million. The program also includes:
• Dollar One Defense;
• Full prior acts coverage beginning the third consecutive year of coverage;
• One time aggregate deductible at no additional cost; • Up to a 10% premium credit with loss prevention education program completion
• Ongoing education opportunities including receipt of Communiqué, a risk management e-newsletter and online access to loss prevention education programs such as Contract Basics for Design Professionals for continuing education credits.
XLsmartADVANTAGE also offers online access to The XL Insurance Contract Guide for Design Professionals: A Risk Management Handbook for Architects and Engineers, a resource book which covers more than 100 topics of issue-driven discussions, claims scenarios, problem-solving strategies and contract language solutions and offers considerable management guidance on topics ranging from financial management to hiring and training project managers.
Architectural and engineering firms can access XLsmartADVANTAGE by contacting a local agent or through an online form to receive a no-obligation quote. More information and access to an online application or a local agent is available at www.xldp.com.
About XL Insurance:
XL Insurance's Design Professional group offers comprehensive professional liability risk management programs including insurance, claims management services, and loss prevention education programs specifically designed for architects and engineers. Coverage is provided by XL Specialty Insurance Company.
"XL Insurance" is the global brand used by member insurers of the XL Capital Ltd (NYSE: XL) group of companies. More information about XL Insurance is available at www.xlinsurance.com. XL Capital Ltd, through its subsidiaries, is a global insurance and reinsurance company providing property, casualty and specialty products to industrial, commercial and professional firms, insurance companies and other enterprises on a worldwide basis. More information about XL Capital Ltd is available at www.xlgroup.com