The following Insurance Programs are available exclusively to MRIA Corporate Research Agency and Corporate Research User Members who may save 20% or more on the non-group market premiums being paid for the same type of coverage:
Professional Liability Insurance:
- Increasingly becoming a requirement for all professional service providers in the business world.
- Protects your business and reputation from all professional liability lawsuits and compensatory damages awarded to claimants.
- Liability coverage available from $500,000 to $5,000,000 per claim.
- Premium discounts available for Gold Seal Certification; majority of firm principals holding CMRP designation; and other factors.
Commercial General Liability (CGL) Insurance:
- CGL is one of the most important coverages for your business. It not only provides protection for claims made against your business for bodily injury and property damage, but also covers legal defense costs.
- It is important to know your coverage also extends beyond accidents occurring on your premises. For example, you are protected in the event a claim is brought against you for personal injury including libel and slander.
- Limits of coverage range from $1,000,000 to $5,000,000 per claim.
- Every business needs to protect its property – from buildings and furniture to computer equipment and money/securities.
- Corporate members can protect their assets at unparalleled rates.
Group Benefits Program:
- MRIA corporate members have access to comprehensive coverage at signficantly discounted rates.
- Flexible coverage options available for individuals, couples, single parents, and families.
- Benefits include Extended Health Care, Dental, Life Insurance, AD&D, Short & Long Term Disability, and the Member’s Assistance Plan.
- Optional Life Insurance and Critical Illness is also available.
Disability & Critical Illness:
- Disability protection is particularly important for self-employed professionals.
- Statistics show that you have a 1 in 3 chance of becoming disabled for 90 days or longer at least once before age 65.
- Diverse products available to correspond with your unique insurance needs.
Do I need BOTH PL and CGL Insurance Coverage?
Important Facts About Liability Insurance:
- PL and CGL insurance policies are designed to complement one another.
- CGL protects against bodily injury, personal injury (libel & slander), and property damage to third parties.
- CGL coverage is triggered by a lawsuit resulting from the negligent actions of an owner, director, or employee. However, CGL coverage does not respond to lawsuits related to professional services or financial losses.
- PL insurance protects against claims not covered by CGL, including lawsuits related to professional services or financial losses.
- The MRIA PL policy covers errors, omissions, or negligent acts which may arise from the professional services and advice offered by insured Corporate members.
- Both CGL and PL cover allegations, whether or not factual, the legal costs to defend a civil lawsuit, and compensatory damages awarded to claimants.
- Purchasing BOTH CGL and PL Insurance will ensure your business is fully protected against liability claims and not exposed through gaps in coverage.
Under the MRIA Group Insurance Programs Corporate members can purchase PL Insurance on its own; however, CGL can only be purchased in combination with PL. The MRIA Program combined PL and CGL coverage provides a total liability package and a very cost effective risk management solution.