EXTON, Pa., Feb. 9, 2015 /PRNewswire/ -- XL Group and RPS/Plus Companies have expanded their underwriting partnership to bring professional liability insurance to another class of business -- title & escrow agents.
According to Erin Fry, head of Programs for XL Group's Select Professional business in North America, "XL Group already enjoys a productive working relationship with The Plus Companies, providing professional liability insurance to insurance brokers and agents. Now, through our new underwriting agreement, title agents, escrow agents, notaries and others can now receive the quality professional liability protection, underwriting expertise and claims defense on which we've both built our market reputations."
"We're excited to expand our working relationship with XL Group and offer our collective professional liability expertise to this niche industry," said Bob Ciuffreda, area president of the Bridgewater, NJ-based RPS/Plus Companies. "For title and escrow agents who can find themselves needing to defend their work, our expertise and tailored professional liability coverage helps protect their livelihoods and reputations."
According to Mr. Ciuffreda, these service professionals can find themselves facing claims alleging incorrect title searches, missed easements, incorrect legal descriptions, failure to record, and occasionally, fraud.
With limits of liability up to $5 million per claim and a $5 million annual aggregate, the XL Group/Plus Companies professional liability program is designed for US-based title agents, title abstractor, closing agent, escrow agent, or notaries with revenues up to $10 million. Coverage is underwritten by the Plus Companies' specialized professional liability underwriters and provided by the XL Group of insurance companies.
About RPS Plus Companies, Inc.
RPS Plus Companies, Inc. is a program administrator founded in 1985 to solely underwrite Lawyers Professional Liability Insurance. Since then the company has expanded to provide specialized professional liability programs for title & escrow agents, insurance agents & brokers and other miscellaneous classes of business. To learn more, visit thepluscos.com.
About XL Group plc's Insurance Operations
XL Group plc's insurance companies offer property, casualty, professional and specialty insurance products globally. Businesses that are moving the world forward choose XL as their partner. To learn more, visit xlgroup.com/insurance
About XL Group plc
XL Group plc (NYSE: XL), through its subsidiaries, is a global insurance and reinsurance company providing property, casualty and specialty products to industrial, commercial and professional firms, insurance companies and other enterprises throughout the world. XL is the company clients look to for answers to their most complex risks and to help move their world forward. To learn more, visit xlgroup.com
XL Group is the global brand used by XL Group plc's insurance and reinsurance subsidiaries.
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SOURCE XL Group plc
Christine Weirsky, Media Relations, 610-968-9395