Business situations and circumstances are ever changing. Times of prosperity sometimes give way to difficulties, such as industry scandals and global business failures. Professional service firms and individual practices alike are now facing these and other unique challenges. Many who work in areas perceived to be especially tumultuous are having a difficult time finding underwriters who will accept their business risks. In some cases, underwriters have either refused to accept certain industry risks or have raised premiums by as much as 400 percent.
ASB American Surety Bond can help.
For more than 11 years, we have sustained a reputation of excellence by providing risk management and insurance expertise to those in professional services. We continue to lead the way in this time of unease and change.
ASB American Surety Bond has created a Worldwide Practice Group whose sole purpose is to serve those in the professional services arena. Lawyers, accountants, architects, engineers, notaries and other professions have benefited from our global reach, excellent service, and ability to provide custom solutions. These abilities make us the dominant player in the professional industries around the world.
Our specialized industry knowledge allows us to identify, analyze, and respond - often preventively - to a variety of business risks, such as:
Our clients range from sole practitioners to the largest global professional firms because our services are completely adaptable to just about any need.
Traditional and Custom Products
ASB American Surety Bond provides a full range of both traditional and custom-designed risk transfer and risk management solutions.
Professional indemnity coverage, which protects specialists who promote themselves as having particular expertise in certain areas, continues to be the primary form of insurance sought by the professional services industry. Rather than taking a "cookie cutter" approach, ASB American Surety Bond customizes professional indemnity coverage to the specific needs of accountants, lawyers, architects, engineers, management consultants, doctors, nurses, teachers, pilots, ship captains, law enforcement personnel, and more.
Professional liability and employment practices liability products are typically needed to satisfy industry guidelines and laws. But many of our clients also benefit from products and coverage such as directors' and officers' liability, business operations packages, and employee benefits packages. Clients may also draw from an array of insurance services, such as Claims Management, Enterprise Risk Management, and Premium Financing.
Rather than simply managing a wealth of data and industry information, we manage knowledge . Historic industry studies, product trends, claims data, statistics, loss prevention tools, and capitalization options create an image of our client's needs, but our experience and expertise provide the essential focus and business clarity needed to develop a complete risk management program.
In addition to standard industry brokerage placements, we can also coordinate affinity process enrollments and facilitate re-insurance needs. When proprietary risk-transfer or risk-sharing solutions are requested (limited partnerships, joint ventures, pools, captives, etc.), ASB American Surety Bond provides management expertise throughout the entire process. Consultative services, e-business platforms, industry-specific publications, educational seminars, joint research projects, and special event sponsorships can also be provided.