Financial Services is another exciting class that Stuckey & Company can write under the Miscellaneous Professional Liability program. 

Opportunity:

• Size of Market: 740,017
• Average Premium: $1,250
• Minimum Premium: $500

How to Quote:

• MPL Application (Miscellaneous Professional Liability Application)
• EZConnect Online Quoting

Financial Services Include:

• Billing Service Professional
• Bookkeepers Professional
• Claims Adjusters Professional
• Payroll Processors Professional
• Tax Preparers Professional

Exposure Concerns for Miscellaneous Professional Liability Insurance:

A few of the underwriting concerns for services that fall into this category are, misuse of personal and confidential information, negligent calculations, commingling of funds, fraud, misinterpretation of tax code, along with many others. 

Prohibited Services Include:

• Accountant
• Actuary Services
• Collection Agencies
• Financial Institutions
• Credit Risk Analysis

Key Questions:

1. What type and size client base does the applicant have?
2. Does the applicant use a written contract with every client?
3. Does the applicant carry a fidelity bond?
4. Does the applicant provide any type of tax consulting services?
5. Does the applicant provide any services related to tax shelters?

Coverage:

• Revenues from $1k to $10M
• Limits up to $5M
• Deductible options ranging from $1k to $5M

Additional Coverage:

• BOP
• Workers Comp
• Commercial Auto
• Bonds
• EPLI
• Ect...

If you have any questions regarding Miscellaneous Professional Liability, please contact Michelle at Michelle@stuckey.com or visit our website at Stuckey.com