Insurance
Professional Liability

Tailored coverage for protecting insurance businesses from their unique risks

Munich Re Specialty’s Insurance Professional Liability product provides critical coverage with a bespoke form that is easy to understand and affirmatively covers the key liability risks for insurance professionals. Available through our E&S Financial Lines team, our coverage is tailored to your specific exposures and has built-in professional service definitions that are broad enough to capture the diverse range of services provided by insurance professionals, including consulting, risk management, loss control services, notary services, continuing education, and expertise witness services. Our Financial Lines team is a diverse group of experienced, community-oriented underwriters who take pride in serving as trusted advisors to our brokers. Writing on A+ paper, we excel in tackling complicated risks with creative solutions.

Expertise

Our team of specialized underwriters excels in handling complex, tough-to-place accounts. Each team member brings deep knowledge to their specific business, from E&O for professionals to management liability and more. We pride ourselves on providing creative solutions and knowledgeable advice, as true experts who can navigate liability challenges.

Stability

This is a cornerstone of our business, reinforced by the financial strength and industry reputation of Munich Re. Our industry-leading capacity and more than five-year market presence underscores a commitment to long-term market reliability. This stability gives brokers confidence in our ability to provide sustained, dependable solutions.

Partnership

Positioning ourselves as "trusted advisors," we offer honest, unbiased guidance that goes beyond simple transactional interactions. This partnership model is built on transparency, expertise, and a genuine desire to partner with brokers for continued success in a challenging market.

Our capabilities and more

Target classes

Insurance Agents and Brokers placing Property, Casualty, Life, and Health products

MGAs

MGUs

TPAs

Excluded: Carriers, wealth management, investment advisors

Coverage details

Up to $5,000,000 in limits
$7,500 minimum premium
$10,000 minimum retention
Primary and excess
Duty to defend
Tailored definition of insurance services
Insolvency exclusion carveback for carriers that are highly rated at time of placement
Supplementary payments for:
Defense for disciplinary proceedings
Subpoena expenses
Loss of earnings
Punitive damages where insurable by law
Broad definition of Insured to include independent contractors, joint ventures, and subsidiaries
Automatic coverage for subsidiaries
Innocent Insured coverage for alleged fraud and discrimination acts and defense provided for such claims through judgment or final adjudication
Defense and Settlement 80%/20%
Automatic Acquisition Threshold 20%

Success stories

Insurance agent

An insurance agent had existing $1,000,000 limit liability coverage that was expiring shortly and needed a total $2,000,000 limit as quickly as possible to meet a contract requirement. The current carrier was not comfortable with more than the $1,000,000 due to the nature of the business. The broker worked with Munich Re Specialty, which was able to offer the $2,000,000 limit and provide a quote in less than 24 hours of receiving the submission.

The result: A Munich Re Specialty bound a $2,000,000 limit policy in less than 48 hours from submission.