How does RAM tailor a policy to meet my specific needs?

Our Professional Liability Specialists aim to make the process of obtaining a policy simple, quick and worry-free. We take the time to get to know our clients first to determine the right coverage for your specific needs. By creating these relationships, we are better able to help you obtain a policy that offers coverage on the risks you have, rather than charging higher premiums on the risks you don’t.

How do I get a professional liability insurance or cyber liability insurance quote?

Our team is here to help start the quoting process today! Reach out to us online or call us at 727-381-1400 to get a quote for professional liability or cyber liability insurance. We’re here to answer any questions you have or to guide you in the right direction.

What is the difference between professional liability insurance and errors and omissions insurance?

Nothing. They are all one in the same coverage. These terms are used interchangeably to refer to the same type of insurance product.

What does professional liability insurance cover?

Professional liability insurance can offer you protection against lawsuits and claims against you and your firm. This form of liability insurance covers costs for negligence claims made by clients of those who provide professional advice and services, but can also cover damages and defense costs. Coverage options and limits may vary from policy to policy; please contact our team at RAM to determine the best policy for you.

What does cyber liability insurance cover?

Cyber liability insurance policies can vary, depending on your carrier, your company’s individual risks and the types of coverages you select. Most Cyber Liability policies will have coverage components focused on Medial Liability, Identity Theft, Regulatory Fines, Cyber Terrorism, Cyber Extortion and Cyber Crime. Contact our Specialists to obtain additional information regarding each of these coverage components and find the best policy for your firm’s needs.

How soon can I obtain coverage?

Proof of coverage can be obtained in as little as 3 days from the receipt of an application. But, some policies can take up to 3 or 4 weeks to be issued by the carrier. Call or contact us online to see how quickly we can provide you coverage.

What is a “claims-made” policy?

A claims-made policy only offers coverage for claims made during the specified policy period. They do not cover claims filed before or after the policy period. Most professional liability policies are claims-made policies. While the claim must be made during the policy period, the allegations may be made against services rendered prior to the policy period. This is called prior acts coverage and most policies use a Retroactive Date to tell you which services are covered.

What is a Retroactive Date?

A Retroactive Date, found in most claims-made policies, is a limiting date whereby the policy does not cover claims alleged on wrongful acts that took place before a specified date, even if a claim is first made during the policy period. For example, assume your firm started on January 1, 2012, but you waited until January 1, 2014 before you purchased your first professional liability policy, the Retroactive Date on your policy would be January 1, 2014. Your current policy, so long as you renewed it timely since the first policy was purchased, would respond to allegations made on your professional services rendered after January 1, 2014. It would exclude coverage for your professional services rendered between January 1, 2012 and December 31, 2013.

How can I save money on the coverage I purchase?

By purchasing a policy through our agency at RAM, you have the opportunity to obtain quotes from more than one carrier. We have semi-exclusive access to several major insurance carriers, which can help you find high quality coverage that fits your budget. We’re also your guiding light when it comes to completing the application as well as choosing the options that best suit your firm’s risks and assist you in better understanding the coverage you purchase from day one.

What should I do if I need to make a claim?

If you are a current RAM client and need to make a claim, please call us directly at 727-381-1400. We are here to help you in starting the claims process and providing guidance, if necessary, after the initial report to the carrier.

Am I able to cancel my policy or make changes?

Should you need to cancel your policy or make changes, please call us directly at 727-381-1400. We can answer any specific questions you have about canceling or changing policy terms and limits, while ensuring your firm understands the risks and benefits in making such changes.