Build a Plan That Meets Your Needs
You can count on this ASME-endorsed Plan for professional liability protection at an affordable cost—whether you're self-employed, part of a firm or moonlighting while employed. Choose from several levels of liability protection to fit your needs.*
For self-employed members and firms with annual billings up to $2,000,000, deductibles start as low as $1,500. Limits of liability begin at $100,000/$300,000 (per claim/annual aggregate), and go all the way up to $1 million/$1 million.
Outside Contracting or Consulting Services
If you are employed but also have your own business, you can get coverage for your outside services. Limits of liability range from $100,000/$300,000 (per claim/annual aggregate) to $1 million/$1 million (per claim/annual aggregate).
Licensing Board Defense Coverage—At No Extra Cost
Licensing Board Defense Coverage reimburses up to $10,000 to the insured for defense costs in the event the insured engineer is brought before the state licensing board. This valuable enhancement to the ASME-endorsed Professional Liability Program comes at no additional cost to you.
Optional Defense Coverage
In addition to the per claim limit of liability, Optional Defense Coverage is available. This feature allows you to purchase an additional limit of coverage for defense expenses above the per claim limit of liability. For example: If you have limits of $100,000/$300,000, you may purchase an added $50,000 of coverage to be used for defense costs.
Sensible Coverage You Can Afford
The ASME-endorsed Professional Liability Program offers claims-made coverage. Claims-made coverage is the most widely available (if not the only available) form of Professional Liability Insurance for engineers. It covers claims made during the policy period resulting from acts committed during the life of the policy.
"Prior Acts" Coverage Also Available
"Prior Acts" coverage is also available for qualifying applicants. This extends coverage for claims made during the policy period resulting from acts that occurred prior to the inception of the policy. If you currently have Professional Liability Insurance, this may be made available. A retroactive date will be placed on your policy, and acts that occurred after that date are considered for coverage. Of course, for coverage to apply, you must have no knowledge of a claim filed against you or any incident which could reasonably be foreseen to result in a claim prior to the inception date of the policy. We recommend reporting any such incidents to your current carrier.
Premium Financing Helps Balance Budgets
For individuals or firms with premiums of $1,000 or more, premium financing is available at competitive annual percentage rates (APR). It's a great tool to help you budget your liability protection.
Questions? We're Only a Phone Call Away
If you have questions, just give us a call toll-free at 1-800-640-7637 between 7:30 a.m. and 5:00 p.m. Monday through Friday, CT. Professional liability experts are waiting to provide you with the information you need.
About This Plan Information
This is merely a brief summary of how claims-made coverage works. Since the actual policy itself and not brief summaries like this determines coverage, we advise you to read and understand the policy language.
*Please note the ASME-endorsed Professional Liability Program is not designed to insure high exposure practice areas that involve pollution, asbestos, nuclear exposure, or products with multiple end users. The policy terms and conditions will govern coverage at the time a claim is made. Please read the policy carefully. All terms are subject to underwriting.
Underwritten by Certain Underwriters at Lloyd's of London.