XL Insurance, an insurance operations of XL Capital, has launched a professional liability insurance program, XLsmartAdvantage, designed for small architectural and engineering firms.

According to XL Insurance, the XLsmartAdvantage professional liability program offers one or two year policy terms with limits up to $1m. The program also includes dollar one defense; full prior acts coverage beginning the third consecutive year of coverage; one time aggregate deductible at no additional cost; up to a 10% premium credit with loss prevention education program completion.

In addition, the new program offers ongoing education opportunities including receipt of communique, a risk management e-newsletter and online access to loss prevention education programs such as contract basics for design professionals for continuing education credits.

The company said that the new program offers online access to The XL Insurance Contract Guide for design professionals and a risk management handbook for architects and engineers.

Alex Blanco, chief underwriting officer of design professional group at XL Insurance, said: “The $11bn design professional industry is largely driven by small firms nationwide with approximately 87% of all A/E firms generating $1m or less in annual revenue.

“For these firms, XLsmartAdvantage offers quick and easy access to more than 30 years of professional liability underwriting expertise as well as the claims management services and loss prevention programs that have already helped protect profitability and drive growth for many of the nation’s largest design firms.”