IronPro, the professional liability unit of Ironshore, has introduced a two-term policy endorsement for its miscellaneous professional liability (MPL) product for small business accounts.
The MPL policy endorsement was designed to streamline underwriting to reduce the brokers’ administrative costs associated with small business accounts, defined herein as professional services providers with less than $5 million in annual revenues.
IronPro’s policy will renew after the first year for a second term with the same guaranteed premium terms and conditions as the first policy period.
IronPro’s MPL program customizes protection for a range of professional services providers, including consultants, advertising and public relations agencies, employment/staffing firms and executive recruiters, among others. Coverage responds to financial losses to the professional services provider sustained by third-parties due to claims arising from alleged negligence. Independent contractors of professional services providers are included in the policy language as covered insureds. Policy limits are available for up to $3 million.
IronPro offers a suite of professional and management insurance liability lines, including directors & officers, employment practices, fiduciary, and fidelity insurance for public, private and limited liability companies and partnerships, as well as non-profit entities.
Ironshore, a Liberty Mutual Company, provides broker-sourced specialty property and casualty insurance coverages for varying risks located throughout the world.