FAQs about our auditors liability insurance program

General questions

What coverages are provided by the Exemplar Global Auditors Insurance Program?
The Exemplar Global program provides commercial general liability and professional liability coverage to all eligible auditors who enroll.
Who is the insurer/carrier?
Your insurance coverage is provided through a highly rated Lloyd's of London syndicate.
What does the general liability policy cover?
Bodily injury, property damage, and personal & advertising injury claims that you become legally liable to pay due to your negligence and to which the insurance coverage applies.
What does the professional liability policy cover?
The professional liability policy will pay damages and claim expenses arising out of any negligent act, error, or omission in rendering or failing to render professional services.
When is my insurance effective?
Your insurance policy will go into effect immediately after your payment online is verified. Once we have received payment verification, you can print your insurance certificate, add additional insureds, and manage your online account.
What is a Risk Purchasing Group (RPG)?
An RPG is a legal entity that is created for groups or persons, with similar related liability risks, to join together to take advantage of a joint insurance purchase. An RPG is not an insurance company and there is no additional risk assumed by the RPG members. The RPG allows the group to gather purchasing power to obtain insurance at a significant cost savings. Each member of the RPG will have their own limit of liability separate from other members of the group. The Exemplar Global Auditor Liability Program is written through the Professional Auditors, Consultants and Engineers (P.A.C.E.) Risk Purchasing Group.
What is Computer Network Security Coverage?
This provides coverage for damages and claim expenses in which you are legally obligated to pay for the failure to prevent unauthorized access to computer systems resulting in destruction, deletion or corruption of electronic data and theft of data on the computer system. Also protects against the failure to prevent transmission of malicious code from computer system to third party computers and systems.
What is an additional insured?
An additional insured is a person or organization (not an employee or friend) that can be added to your insurance policy by endorsement. When providing additional insured status to a person or organization, your policy will protect that additional insured for claims arising out of your negligence.

For example, you are contracted with ABC Company to perform specific services and are required to name ABC Company as an additional insured. During your operations, a bodily injury or property damage claim occurs. The injured party sues you and ABC Company. Your policy will provide coverage to ABC Company because they are listed on your policy and are being named in the lawsuit due to your negligence.

This is a common request by landlords, venues, and other persons or organizations that you may be performing services for.
Can I add an additional insured after I purchase my policy?
Yes. To add an additional insured, you will need to log into your account, add the additional insured, and print a certificate of insurance showing that the additional insured has been added.
Is there a cost to add an additional insured?
$20 for additional insureds. To purchase additional insureds, log into your account and, under the policy screen, click on the "Add Additional Insured" button.
Can I make monthly payments?
No, the annual premium is due at the time of purchase. If you need some time to save up before you can purchase, please take advantage of our Remind Me tool so you don’t forget.
What is your privacy policy?
Follow the link to read our Privacy Policy.

Policy-Specific Questions

What are the insurance limits provided by the Exemplar Global Auditor Program?
General Aggregate Limit   $2,000,000
Professional & General Liability - Each Occurrence Limit   $1,000,000
Personal and Advertising Injury Limit   $1,000,000
Damage to Rented Premises Limit   $1,000,000
Computer Network Security Coverage   Included
What is the difference between an Occurrence Form policy and a Claims-Made policy?
One of the major difference is how you need to report any incidents or claim activity. On a Claims-Made policy the claim or incident must occur during the policy period and be reported to us during the policy period or extended reporting period. On an Occurrence form, the claim only needs to happen during the policy period but does not need to be reported to us during the policy period.
What is a Retroactive Date (Retro-Date)?
If you had purchased a professional liability policy in the past, and has continually remained in force without a lapse in coverage, a Retro-Date should appear on your professional liability policy. This date represents the beginning of your professional liability coverage and may be several years in the past. It is important to keep the Retro-Dates from one policy to the next the same. Any claims on a loss or injury that took place prior to the Retro-Date will not be covered under the policy.
If you have not had not purchased professional liability coverage in the past, or you had a lapse in your professional liability coverage, your Effective Date and Retro-Date may be the same.
What is an extended reporting period?
The extended reporting period is a designated amount of time provided after the Claims-Made policy has expired in which you can report a claim or incident. You may not report any claims or incidents after the extended reporting period time has expired.
How long is the extended reporting period?
The basic extended reporting period, which is included in the policy, is 60 days starting from the expiration date of the Claims-Made policy. Optional extended reporting periods are available and can be purchased prior to the expiration of the policy. Please contact us to discuss these options.
What is considered a professional service?
Professional services are those services you perform, or that are performed by others on your behalf, as outlined on the certificate of insurance.
Are there professional services that are not covered?
The covered professional services do not include work or activities performed as an accountant, architect, surveyor, health care provider, lawyer, insurance or real estate agent or broker, or civil or structural engineer.
What does damage to rented premises cover?
If you enter into a rental or lease agreement to occupy a premise for 7 or more days, we will provide coverage to that premise for damages by a fire only, up to the limit shown on the certificate of insurance. This does not provide you with any business personal property coverage. If you need business personal property covered, please contact us.
Can I cancel my policy?
The insurance policies are 100% earned premiums, which means we cannot offer refunds once coverage begins.
How long is my policy coverage?
The period of coverage through your policy is 12 months. The effective and expiration dates will be listed on your policy proof of insurance document, which is accessible from your online account.
Can I purchase my policy in advance?
We will allow you to purchase coverage up to 30 days prior to your requested effective date.
How do I access my policy documents?
You can access your policy at any time by logging in to your customer portal.

Renewal Questions

Does my policy automatically renew?
No. You will receive notices to renew your policy, but it does not automatically renew. You will need to log into your account and renew your policy.
How do I renew my policy?
To renew your policy, log in to your online account. Click on "My Policies," and then click the "Renew" button next to your expiring policy number. The renew button will only be available within 30 days of your policy expiration date. After you've clicked renew, simply fill in the required information and submit your renewal.