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Bureau of Labor Statistics
Obtains and performs analysis of various demographics that is used by the U.S. Government and industry. The demographics are used by insurance companies to conduct marketing segmentation studies, enabling them to forecast areas where there will likely be great demand for their products and to plan and position processes for product distribution.
Insurance Industry News from ProgramBusiness.com
Alternative Risk Lawyers Professional LiabilityStorefront owner Administrators for the Professions of Delaware, Inc. (“AFPD”) is pleased to announce the availability of a new market for attorneys who are unable to obtain insurance in the “admitted” marketplace. This facility is intended for law firms with 1 to 15 attorneys that have disciplinary or frequency/severity issues. Firms performing “high risk” areas of practice (e.g., Intellectual Property, Securities) will not be considered. Limits available are $250,000/$250,000, $500,000/$500,000, $750,000/$750,000 and $1,000,000/$1,000,000. Defense is inside the limits. Coverage (defense only) in the amount of $10,000 (outside the limits) is provided for disciplinary proceedings. It is anticipated that risks going into this facility will be written on a “retro inception” basis. However, limited prior acts may be available at the discretion of the underwriter.
AFPD is the exclusive administrator for this program. This facility is available in the following states: AL, AZ, DC, FL, GA, IA, ID, IL, IN, KY, MD, MI, MN, MO, NC, NM, NV, NY, OH, SC, SD, TN, TX, UT, and WI.
LPL Application forms from most carriers will be accepted provided an Acceptance & Warranty Statement is completed. The program has reasonable minimum premium requirements.
Business will be placed with a domestic A.M. Best “A” rated carrier that is an authorized surplus lines carrier in 48 states and the District of Columbia.
Since this facility is offered only on a surplus lines basis, AFPD will accept business only from producers having a surplus lines license. This program will not be provided on an open market basis. All producers must be approved by AFPD. Producers shall be responsible for compliance with all applicable laws and regulations relating to the placement of surplus lines insurance and for the collection and payment of all surplus lines fees and taxes.
Broker of Record letters generally will not be accepted. First application in will control the account. Minimum earned premium is 25%.
All of us at AFPD pledge to provide you with superior service and responsive underwriting. We are excited about this new facility and will do our very best to provide you with the service you have come to expect from us.
AFPD is a member of the National Association of Professional Surplus Lines Offices, Ltd. (NAPSLO) and the Professional Liability Underwriting Society (PLUS).
Please contact Irwin Giles at mailto:ifgiles@afpd.net for additional information on this program. For more information about the programs offered by AFPD, visit their storefront at www.programbusiness.com.
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