PEORIA, Ill., Oct. 23, 2019 — (PRNewswire) — The American Society of Civil Engineers (ASCE) Professional Liability Program, administered by Pearl Insurance, has added The Hanover Insurance Group as a new carrier partner.
Effective October 2019, this new partnership will supply engineers with an array of expanded coverage options, including:
- Limits up to $10 million
- Broad definition of professional services (engineer, surveyor, architect, and more)
- Reputation protection expenses (up to 50 percent reimbursement/$50,000 max)
- Claim-free deductible reduction (25 percent/$10,000 max)
- Claim expenses (first $100,000 reimbursed and will not erode policy limits)
- Exceptional risk management resources including tools, sample documents, and more
Gary Pearl, CEO of Pearl Insurance, is confident this move will make a positive impact on the program and members alike. "Our longstanding relationship with ASCE over the past 10 years has allowed us to further develop our professional liability offerings," he said. "This partnership with The Hanover will benefit ASCE members and will continue to meet the needs of the industry."
The new partnership will provide more options for design professionals. "We're excited to partner with Pearl to provide ASCE members with innovative coverages and services to more effectively address their evolving risks and exposures. During a time when there will be a significant rebuilding of infrastructure across the country, The Hanover is committed to helping our partner agents meet the ever-changing needs of our customers," said Greg Leffard, President, Hanover Professional.
Tom Smith, Executive Director of ASCE, believes the expanded program will serve the association's evolving membership. "Given the tremendous responsibility of design professionals requiring unique knowledge, skills, and attitudes in a continuously changing profession, we are pleased to partner with our professional liability Affinity partner, Pearl Insurance, to expand ASCE's Professional Liability program offering to include The Hanover A&E product in addition to the current professional liability offering. We are excited to expand coverage availability to our membership while ensuring the broadest features are available to member insureds."
ASCE members eligible for professional liability insurance underwritten by The Hanover include:
- Engineers located in Indiana and New York: All firms, no limitations on firm size or billings
- Engineers located in all other states: Firms with $3–$35 million in annual billings and $2–$10 million in policy limits
Engineers seeking professional liability insurance can learn more by calling (888) 619-1908 or visiting ASCEinsurance.com.
The American Society of Civil Engineers represents more than 150,000 members of the civil engineering profession in 177 countries. Founded in 1852, ASCE is the nation's oldest engineering society. The ASCE Member Insurance Program offers comprehensive insurance options to their members at competitive group rates.
The ASCE Professional Liability Program is marketed and administered by Pearl Insurance, CA #0A15583. Pearl Insurance was founded by John (Jack) Pearl in 1954. Pearl Insurance is a privately held insurance company that focuses on providing businesses with insurance options that best fit their industry's specific set of risks.
About The Hanover
The Hanover Insurance Group, Inc. is the holding company for several property and casualty insurance companies, which together constitute one of the largest insurance businesses in the United States. The company provides exceptional insurance solutions through a select group of independent agents and brokers. Together with its agents, The Hanover offers standard and specialized insurance protection for small and mid-sized businesses, as well as for homes, automobiles, and other personal items. For more information, please visit hanover.com.
SOURCE Pearl Insurance
|Company Name: Pearl Insurance
Stephen Lang, Vice President, (309) 679-0376