Management services help coordinate the efforts of people to accomplish goals and objectives using available resources efficiently and effectively. The types of businesses in this class perform these types of services. 

As I mentioned in my last blog, there are seven (7) services classes within our Micellaneous Professional Liability program.

Opportunity:

• Size of Market: 2,420,355
• Average Premium: $1,300
• Minimum Premium: $500

How to Quote:

• MPL Application
• EZConnect Online Quoting

 Examples include:

• Management Consulting Firms Professional - SIC 8742
• Marketing Firms Professional - SIC 8742
• Advertising Firms Professional - SIC 7311
• Human Resource Management Professional - SIC 8742
• Background/Pre-Employment Screening Firms Professional - Sic 7381
• Direct Mail Services Professional -SIC 7331
• Public Relations Firms Professional - SIC 8743

Exposure Concerns:

Improper/negligent advice, copyright or trademark infringement, misrepresentation, libel/slander, and breach of confidentiality are a few of the exposure concerns for this class. 

Prohibited Services:

• Medical Consultants
• Security Consultants
• Mortgage Brokers
• Social Services
• Architectural Consultants - Try our Aspire A&E program
• Loan Consultants
• Public Officials

Key Questions:

1) Who is relying on their advice?

2) Are they involved in mergers or acquisitions?

3) What risk management procedures are in place?

4) Do they use a written contract/agreement with their customers?

5) What steps do they take to maintain data security?

Coverage:

• Revenues up to $10M
• Limits up to $5M
• Deductibles from $1k to $50k

Additional Coverage:

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

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