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New Professional and General Liability Insurance

Specially Designed Professional and General Liability Insurance for Members of AAB, CRB and NILA.

Download PDF Information Sheet on the New Insurance Program

What is Professional Liability Insurance Coverage?

■ Individual Coverage:

Professional liability insurance, sometimes called Errors and Omissions Liability Insurance, protects you and your assets by defending claims, usually in the nature of negligence or malpractice, in situations where someone claims damage or injury as the result of your professional advice or services. The intent behind this coverage is to protect your personal assets from the risks of liabilities imposed by lawsuits and similar claims.

■ Laboratory Coverage:

Professional Liability coverage that will expand coverage for the laboratory and its employees for acts performed within in the scope of their services. The policy is intended to extend to both Professional Liability as well as General Liability because of the potential crossover of lawsuits.

General Liability insurance policies provide coverage to businesses for personal injury, property damage and other claims arising out of the operation of the business, the use of the business’s products, or accidents or events that occur on the business premises.

All other lines of coverage usual to a laboratory will also be available. Carrier selection will be dependent upon the services being provided at the laboratory.

Who Is Sallop Insurance Inc.?

Sallop Insurance Inc. is a boutique insurance brokerage firm catering to miscellaneous health care facilities for more than 55 years. Sallop’s practice includes a sub-specialty of risk mitigation and underwriting expertise available to all of its clients.

Through education and attention to the changing political and legal environment of many complex industries, Sallop represents that it has influenced insurance practices in the area of miscellaneous healthcare programs, including but not limited to practices and laboratories involved in Assisted Reproductive Technology (ART) and Organ and Tissue Procurement and Emerging Healthcare Technologies. This industry focus has culminated in Sallop's belief that it has the ability to provide comprehensive coverage, and favorable pricing, terms and conditions.

Sallop, in partnership with an A-rated insurance carrier, specifically designed an insurance program to meet the needs of the members of AAB, CRB, and NILA laboratories.

Who Needs Liability Insurance Coverage?

All individuals providing services in a laboratory setting who may be involved in an incident that may give rise to a claim need liability insurance coverage. This coverage will provide you, the individual, with protection regardless of whether the laboratory coverage has been amended to include your services as an Independent Contractor. In many cases, individuals who are working at multiple laboratories are not typically granted coverage under any laboratory’s insurance program(s). If you are offered coverage through the laboratory, additional coverage may be recommended as the limits on the laboratory’s insurance policies may not be sufficient to cover the potential liability exposure.

Who Can Take Advantage of this Special Offer?

  • Individual Coverage: Any AAB regular director or supervisor member in good standing.
    This includes CRB and NILA directors/supervisors.
  • Laboratory Coverage: Any NILA member laboratory.

Features & Highlights of What is Offered

  • Easy Application
  • Acknowledgement of all Submissions within one Business Day
  • Acknowledgement of all Claim Notices within one Business Day
  • Expedited Issuance of Policies
  • Healthcare Organization/Individual Laboratory Directors/Consultants Professional Liability (Claims-Made)
  • General Liability (Occurrence)
  • Healthcare Organizations/Consultants Sexual Misconduct Liability (Claims-Made)
  • HIPAA Violation Supplementary Payments – $250,000
  • Billing Error Supplementary Payments – $15,000
  • Cyber Liability Coverage – $50,000
  • Minimum Premium is $2,500
  • Premium is 100% Earned and Due Upon Binding
  • Defense Outside the Limit
  • Full Consent to Settle
  • Punitive Damages Coverage
  • Broad Form, Blanket Contractual for all Insuring Agreements

LIMITS

Professional Liability (Claims Made)

Each Claim      $1,000,000
Aggregate   $3,000,000

 

General Liability (Occurance)

Per Occurance   $1,000,000
Aggergate     $3,000,000

 

EXTENDED REPORTING PERIOD

 1 Year  100%
 3 Years  150%
 5 Years  200%
 Unlimited  225%

 

How Do I Obtain A Quote?

  • Click here to get started
  • Complete the application, including a copy of the Current Declarations Page and Loss Runs (if applicable)
  • Submit the forms online
  • Submit your CV with the application

Disclaimer

AAB, CRB and NILA are assisting in making the services of Sallop available to members. AAB, CRB and NILA do not write, underwrite, issue or control the policies, nor are they involved in the implementation of the policies, the insurance relationship, or the handling of claims. The insurance relationship is solely between the Insured or the policy Owner, and Sallop. AAB, CRB and NILA bear no responsibility for any dissatisfaction with, or claims against Sallop or its insurance policies.

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