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Expert analysis on specialty insurance and an inside look at Argo.

3 Reasons MPL Coverage is Essential for Unconventional Businesses

The team at Argo Pro fills gaps left by traditional insurance for new and niche professionals.

As new, innovative professions emerge in the marketplace, brokers and insurers face a challenge: how to provide the same protection that more established businesses enjoy. That’s where Miscellaneous Professional Liability (MPL) comes in.  

During a recent LinkedIn Live, a panel of Argo Pro specialists examined MPL coverage, including new careers that need it, what it covers – and how Argo Pro keeps up with the rapid changes.   

  1. MPL provides solutions for emerging professions. Search engine optimizers, COVID contact tracers and consultants in artificial intelligence, sustainability and DEI – Argo Pro covers them all, as well as other up-and-coming fields. Jennie Faith, Senior Underwriter, Architects and Engineers (A&E) and MPL, discusses an example of social media and influencers: “People make a lot of money doing that. There are media and personal injury risks involved. There’s misrepresentation… there is a true exposure out there for that. 
  2. The coverage fills gaps left by traditional insurance. MPL is designed to cover difficult-to-place third-party financial losses due to errors or omissions. “In a lot of cases, contracts require this coverage and they can’t get jobs without it,” says Pauline Morley, SVP Underwriting, Head of A&E and MPL. Some people think it’s a catch-all policy. The policy doesn’t cover everything, it covers a specific segment of the exposure that most insureds face.”
  3. For small businesses facing large risks, MPL is a must. “I hear a lot of people say, ‘I don’t really need it, I’m a small company, I have really great clients who I’ve known for a while and they’re not going to sue me,’” says Morley. “All of this has been proven wrong in a lot of cases. A smaller company that’s just starting out, or that has relatively low revenues, can’t withstand the defense of these claims. It’s not a luxury buy – it’s a necessity in this litigious world.”

Work with a carrier who has a dedicated MPL underwriting team

Argo Pro brings the knowledge, experience and flexibility necessary to cover the fast-changing world of MPL risks. Reach out to the team to learn more about MPL coverage for you or your clients. 

Interested in exploring a career in MPL? View job openings at Argo. 

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