Allied Public Risk – Alternative Markets, is pleased to introduce the Public Risk Special Excess Retained Limit Coverage Form (PRSERL). This new policy was designed for the benefit of our brokers and insureds to provide the same broad coverage, but in a streamlined and easy to use format. The carrier will remain the same, only the underwriting company will change. The policy is admitted in 46 states, non-admitted in AK and FL and not available in ID and ME. The carrier boasts an A.M. Best “A” XV (Excellent) rating.
The form is a simplified approach that offers more coverage certainty than other public entity liability packages. All major lines of coverage are combined in one policy to eliminate potential gaps and reduce redundancies. The policy construction is logical and easy to use with alphabetized exclusions, definitions and conditions.
It is our intention to quote all new business on this new form. We will transition renewal accounts at anniversary. Per compliance with statutory requirements, APR will send each of our policyholders a letter related to the transition to the new policy form. With this, policyholders will also receive an overview of the PRSERL coverage form and any changes to their policy. The form is located under our Alternative Markets page for you to download.
Thanks again for your continued support of APR!