The Hartford Financial Services Group has launched a new miscellaneous professional liability protection policy for consultants with premiums beginning at less than $1,000. It offers the new coverage through its Hartford Financial Products (HFP) unit.
Designed for small firms that provide advice or services requiring specialized knowledge, the new professional liability policy coverage is available as a stand-alone policy or as part of the company’s private choice encore!! policy, the company said.
The new policy features an enhanced definition of professional services; coverage for personal injury, including libel and slander; coverage for punitive damages, where allowed by law; liability coverage for erroneous work performed by a subcontractor; and coverage extension for expenses related to disciplinary proceedings.
The company also offers separate policies for several industries that are not eligible for professional liability coverage under private choice encore!!. These include attorneys, accountants, private equity fund managers, technology firms and real estate firms.
Sean Fitzpatrick, SVP of middle market and specialty financial businesses at The Hartford, said: As part of our broad array of standard and specialty products for businesses of all sizes, this coverage can enhance the security of consultants and small firms, helping them achieve what’s ahead.