Professional
Liability Insurance for the Arbitrator or Mediator
Exclusively for ACR members
ACR Professional Liability Insurance Program
ACR’s new Quick Quote process will give you
comparative price information against what
you are now paying for insurance. And what
you get will be better coverage for more
peace of mind at competitive rates. Let us
show you.
Get ahead of the curve and avoid the rush.
Use this “Quick Quote” Form to get a
nonbinding information quote today.
ACR is proud to introduce our new program covering
Professional Liability Insurance for our members.
Over the last year we have carefully reviewed the
needs of Arbitrators and Mediators and have
developed a policy along with Pinkham Agency Inc., a
policy which broadens the coverage available while
still maintaining competitive pricing.
Pinkham Agency Inc. will be our insurance
representative for this program. They have been in
business over 50 years serving individuals and
various groups. They will coordinate the
underwriting, claims assistance and responses to any
questions you may have.
Highlights of the professional liability insurance policy:
-
A countrywide competitive rate for both
Arbitrators and Mediators
-
Broad definition of named insured
-
Various limits available with deductibles
ranging from $0 to $5,000.
-
Claims offices located regionally across the
country.
-
Retroactive acts are automatically included for
all insureds who have been covered by previous
insurance
-
Worldwide coverage is available
-
Unauthorized Practice of law (UPL) is
automatically included with a sub limit
-
Defense costs are in addition to the limits of
liability for claims.
-
Both individuals and multiple person practices
can be covered
-
Coverage for part-time legal practice can be
included in the professional liability for an
additional charge
Comparison of Pinkham/CNA and CEM/Lloyds
Professional Liability
Policies
For many years, ACR offered a group program of
professional liability insurance through Lloyds'
of London and Complete Equity Markets. In 2007,
ACR undertook a competitive bidding process,
including the use of an independent insurance
consultant and one of the leading attorneys in
the field of group insurance programs. As a
result, ACR entered into an agreement with the
Pinkham Agency to offer a new policy through
Columbia Casualty, part of the CNA group of
companies.
ACR's overriding purpose in changing its
professional liability insurance program for
members was to improve the coverage for members.
This chart highlights some of those areas of
member benefit improvement.
|
Coverage |
Pinkham/CNA |
Complete Equity
Markets/ Lloyds |
Comments |
|
|
|
|
|
|
Policy Term / Cancellation |
1 year non cancellable except
for non pay |
1 year |
CNA protects you from arbitrary mid- term cancellation |
|
|
|
|
|
|
Deductible |
Minimum Deductible $0 |
Minimum Deductible $500.00 |
CNA offers more coverage
|
|
|
|
|
|
|
Definition of named Insured –
Services provided by insured |
Broad Definition of named
insured |
Limited Definition of named
insured can be endorsed for additional
premium |
CNA offers more coverage for
any Mediation/Arbitration services you
provide |
|
|
|
|
|
|
Cost of Defense
|
Defense cost are outside the
limit of Liability |
Defense cost are with in the
limit of Liability |
With CNA, the cost of defense is not subtracted from the policy
limits, but is in addition to the policy
limits |
|
|
|
|
|
|
Punitive Coverage |
Covered under policy |
Not Covered under policy |
CNA offers more coverage |
|
|
|
|
|
|
Personal Injury - Libel,
Slander |
Covered under policy |
Not Covered under policy |
CNA offers more coverage |
|
|
|
|
|
|
Unauthorized Practice of Law
(UPL) |
Covered under policy with a
sub-limit |
Available by endorsement for
an additional premium |
CNA offers more coverage |
|
Coverage |
Pinkham/CNA |
Complete Equity
Markets/Lloyds |
Comments |
|
|
|
|
|
|
Incidental Law Practice |
Law practice up to 25% of
revenue is available by endorsement for an
additional premium. |
Not covered by policy |
CNA’s coverage means a
separate legal policy may be unnecessary |
|
|
|
|
|
|
World Wide Coverage |
Available by endorsement
|
Available by endorsement |
Similar |
|
|
|
|
|
|
Spouse Coverage |
Included in the policy |
Can be covered by Endorsement
for an additional premium |
CNA offers more coverage |
|
|
|
|
|
|
Claims |
Offices located regionally
across the country |
Claims representative located
in Chicago IL |
CNA offers more access to
local legal services |
|
|
|
|
|
|
Extended reporting period |
60 days automatically,
optional guaranteed up to 3 years for
additional premium |
Optional guaranteed 1 year
for additional premium |
CNA offers more coverage |
|
|
|
|
|
Here are links to the application form to request a
quote for Professional Liability coverage and a
renewal supplement:
ACR Liability Insurance Application
Please return this application form to Pinkham
Agency Inc. at (516) 827-4280.
Questions?
Contact Marc Berg at (877) 402-7945 or email
Mberg@pinkhamagency.com.
ACR EZ Transition Application
This form is for use by members currently covered
under a policy with
Underwriters at Lloyd’s. Please include this
transition application along with your original
Lloyd's application and
indicate the gross receipts of the firm from covered
services.
Questions?
Contact Marc Berg at (877) 402-7945 or email
Mberg@pinkhamagency.com.
ACR EZ Renewal Supplement
Please fax forms to Pinkham Agency Inc. at (516)
827-4280.
Questions?
Contact Marc Berg at (877) 402-7945 or email
Mberg@pinkhamagency.com.
Only the policy can
provide the actual description of terms, coverages,
amounts, conditions and exclusions. This information
is for illustrative purposes only and is not a
contract. (c) 2008.
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