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The AICPA-endorsed Group Personal Excess Liability Plan provides excess personal liability protection for mid and large sized accounting firms. The coverage provides excess protection over an individual's auto and homeowner’s insurance policies and legal defense for covered claims.

Today, the personal act of a partner such as an automobile accident, can become a firm problem. The financial impact and mental stress arising from a personal lawsuit can be significant and can impact the ability of the partner to provide high quality professional services for the firm.

Key Features

  • Eligibility – All partners and key individuals are automatically covered under the Plan, providing protection for the individuals and the firm. There are no individual underwriting requirements for eligible firm personnel. It is highly recommended that firms require all partners to have high limit personal excess liability. This coverage helps ensure that objective is met.
  • High Limits – The Plan provides a high limit of protection necessary for professionals in today's society with up to $5 million available for each partner. The firm can select different limits of coverage for each class of individuals. Basic limits of personal liability begin at $1 million for each firm member.
  • Uninsured Motorists Protection – Optional uninsured/underinsured motorist's coverage (UMC) providing a $1 million limit per individual is also available. UMC provides protection for an insured that sustains bodily injury from an automobile accident with someone who has inadequate or no liability insurance.
  • New Firm Personnel – All new partners and key individuals can be added to the coverage at any time by notification and without meeting any individual underwriting requirements. 
  • Single Premium – A single premium rate for each individual covers all of their qualifying risks, and there is no premium surcharge or coverage limitation for youthful operators residing in an insured's household. The policy has a minimum annual premium of $10,000 per firm. A variety of coverage options, limits, and classes of individuals to be covered by the firm are available, providing an attractive comprehensive policy for each firm.

Don’t let a partner’s personal acts or the actions of their spouse and children become a problem of the entire firm.