This Social Service Agency Policy will cover the Agency as an insured as well as covering all employees while working under the auspices of the Agency. It covers employees, directors, trustees and executive officers while acting within the scope of their duties as such. The Agency is protected for volunteers and students, and they are protected personally.
- New Business Application for ALL states except KS and ND
- New Business Application for Kansas
- New Business Application for North Dakota
- Addiction Services Supplemental Application for Florida
- Addiction Services Supplemental Application for Louisiana
- Addiction Services Supplemental Application for Maine
- Addiction Services Supplemental Application for North Dakota
- Addiction Services Supplemental Application for remaining states
- Employment Practices Liability Insurance Application for Florida
- Employment Practices Liability Insurance Application for Louisiana
- Employment Practices Liability Insurance Application for Maine
- Employment Practices Liability Insurance Application for North Dakota
- Employment Practices Liability Insurance Application for remaining states
- General Liability Supplemental Application for Florida
- General Liability Supplemental Application for Louisiana
- General Liability Supplemental Application for Maine
- General Liability Supplemental Application for North Dakota
- General Liability Supplemental Application for remaining states
- Inpatient Residential Supplemental Application for Florida
- Inpatient Residential Supplemental Application for Louisiana
- Inpatient Residential Supplemental Application for Maine
- Inpatient Residential Supplemental Application for North Dakota
- Inpatient Residential Supplemental Application for remaining states
- Methadone Treatment Supplemental Application for Florida
- Methadone Treatment Supplemental Application for Louisiana
- Methadone Treatment Supplemental Application for Maine
- Methadone Treatment Supplemental Application for North Dakota
- Methadone Treatment Supplemental Application for remaining states
Claims Made vs. Occurrence Form Professional Liability Policies
There are two primary policy forms for Professional Liability Coverage – the Claims Made Form and Occurrence Form. Many types of professional liability coverage, including Directors and Officers Liability and Employment Practices Liability, are only written on a Claims Made Form. Here are the differences between the two forms:
When a policyholder has an Occurrence form, an incident that occurs during the policy period will be covered by that policy, regardless of how many years later the claim is reported. Incidents that occur before the occurrence form policy is issued are not covered.
CLAIMS MADE FORM
When a policyholder has a Claims Made form, a claim that is made against the insured is covered by the policy in force at the time the claim is made. A retroactive date is usually established as the day the very first Claims Made policy is issued. All subsequent renewal policies use the same initial retroactive date. Claims occurring before the original retroactive date are not covered.
When a policyholder decides not to renew a Claims Made Form, an Extended Reporting Period (ERP) endorsement may need to be purchased. This endorsement does not need to be purchased if:
♦ The policyholder switches insurance companies and remains on a Claims Made Form with the new company keeping the same original retro date.
♦ The policyholder switches insurance companies and goes on an Occurrence Form which is endorsed with a “Prior Acts” endorsement as of the original retro date.
Therefore, a policyholder will only need to purchase ERP coverage in the event the policyholder chooses to switch to another insurer who does not offer a Prior Acts coverage endorsement. In this instance, the one time cost for the ERP endorsement is 200% of the expiring premium.
BENEFITS OF AN OCCURRENCE FORM
♦ No need to buy Extended Reporting endorsement
DISADVANTAGES OF AN OCCURRENCE FORM
Because a claim can sometimes be filed 10 years or more after a professional liability incident, the policyholder may have the following uncertainties:
♦ Tracking which Occurrence policy in the past will respond to the claim just filed.
♦ The former Insurance Company may no longer be solvent. If the Insurance Company filed bankruptcy, the policyholder would have to rely on state Guaranty Funds which usually provide lower limits and services.
♦ Whether the past policy now has adequate limits due to inflation.
BENEFITS OF A CLAIMS MADE FORM
♦ Less expensive than Occurrence form, especially in the first four years of coverage of the Allied World Insurance form. After five years, the Claims Made Premium levels off. The lower cost for the first four years is especially attractive to professionals just starting their career.
♦ Flexible – Recently increased limits and broadening endorsements will apply to past incidents that are reported under the current policy and occurred after the retro date. For example, $500,000 per occurrence limit may have been considered adequate when a Claims Made form was first issued years ago. Today, $1,000,000 or even $2,000,000 may
be considered adequate due to inflation. If a Claims Made policy is endorsed today to $2,000,000 limits, these higher limits will apply to a covered incident that may have happened two, five, ten years ago or more.
♦ Less uncertainty as to the current company’s financial stability. Coverage can be switched to another carrier with no lapse of coverage if your agent determines the current carrier is in financial difficulty.
DISADVANTAGE OF A CLAIMS MADE FORM
♦ Need to plan for Extended Reporting Period endorsement when deciding not to renew a Claims Made form. Your APA, Inc. underwriter will guide you when or if an Extended Reporting Period endorsement is needed. You will also receive formal written notice when your Claims Made policy lapses or non renews to remind you of your need to investigate your need for this endorsement.
Other Professionals are Saying...
The customer service representative took the time to fully engage with this client. She was attentive to my needs. She demonstrated active listening skills, empathetic listening skills, as well as consistently seeking adequate clarification skills. In doing so, she provided this veteran with excellent customer service.
– Brittany England
I have been a customer of Allied for many years and have consistently experienced some of the best customer service I have encountered. All my requests or questions, whether on the phone or in writing, are dealt with promptly, politely and professionally. Even better everyone I talk to on the phone is kind, friendly and helpful. It is a pleasure dealing with a company – I am consistently impressed with your service. Thank you.
– Catherine Christo
Thanks! Just a quick note to let you know I notice and appreciate your assistance and responsiveness! A very pleasant experience in this day and age of cookie-cutter customer service.
– Steven I. Altchuler
Credit Card Payments are accepted on-line only, we do not accept credit card payments over the phone. The name on your credit card MUST match the name on your policy (for identity verification purposes).
Please call our office at (800) 421-6694 for information on how to easily pay by Credit Card.
We accept the following:
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American Professional Agency is committed to providing you with current and competitive policies, prices and professional liability news. Feel free to contact us regarding any concerns or needs that you may have with your existing policy or the purchase of a new policy.
Hours of Operation
Monday through Friday, 9:00 am – 5:00 pm Eastern Time
Summer Hours: 8:30 am – 4:30 pm Eastern Time
(Memorial day through Labor Day)
American Professional Agency, Inc.
Amityville, NY 11701
To speak with one of our knowledgeable customer service representatives, please call (800) 421-6694 or (631) 691-6400. Having your account number or policy number available will expedite the process.