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Claims Made vs. Occurrence Coverage

What are the professional liability insurance statutory requirements in your state? For example, in Pennsylvania, physician and surgeons must carry limits of liability of $1,000,000 per occurrence/$3,000,000 aggregate as a condition of licensure. As a result, they are required to have tail coverage … [Read more...]

What is Reinsurance?

Reinsurance is an Insurance that an insurance company buys for its own protection. The risk of loss is spread so that a large loss under a single policy doesn't fall on one company. Reinsurance enables an insurance company to expand its capacity; stabilize its underwriting results; finance its … [Read more...]

What is an “Admitted” Insurance Carrier?

Professional Liability Agency works with Admitted Insurance Carriers whenever possible. After performing an insurance program risk review, PLA will determine the adequacy of coverage within the marketplace. If unable to find an admitted insurance carrier in which to place the coverage, PLA has … [Read more...]