Navigators Pro Introduces the APL InNAVation(sm) Policy for Accountants Professional Liability.NEW YORK -- The Navigators Group, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :NAVG NAVG Navigation ) today announced that Navigators Pro, a division of Navigators Management Company, has introduced the APL (A Programming Language) A high-level mathematical programming language noted for its brevity and matrix generation capabilities. Developed by Kenneth Iverson in the mid-1960s, it runs on micros to mainframes and is often used to develop mathematical models. InNAVation(sm) Accountants Professional Liability (APL) policy for accounting firms. The APL InNAVation(sm) provides coverage for accounting firms, their partners, accountants and staff who are legally obligated ob·li·gate tr.v. ob·li·gat·ed, ob·li·gat·ing, ob·li·gates 1. To bind, compel, or constrain by a social, legal, or moral tie. See Synonyms at force. 2. To cause to be grateful or indebted; oblige. to pay covered losses resulting from rendering or failing to perform their duties. A broad definition of professional services includes services performed in an insured's capacity as an accountant as well as related professional services in information technology, financial planning, and management consulting. The policy is specifically designed for accounting firms with 1-50 accountants and employed professionals. Limits of liability available are up to $10,000,000 for acceptable insureds based upon underwriting evaluation. The APL InNAVation(sm) is underwritten by Navigators Insurance Company and NIC (1) (Network Interface Card) See network adapter. See also InterNIC. (2) (New Internet Computer) An earlier Linux-based computer from The New Internet Computer Company (NICC), Palo Alto, CA. Insurance Company, which are both rated "A" (Excellent) by A.M. Best. Brian Braden, Vice President of Navigators Pro, stated that "The accountants professional liability marketplace is underserved. There is a need for innovative insurance solutions that will respond to covered loss for relevant professional services performed by today's accounting firms. Navigators Pro continues to set the pace for innovative insurance solutions that meet the needs of professionals." The APL InNAVation(sm) policy is limited to eligible risks subject to Navigators' underwriting evaluation. Customers should consult their insurance broker for underwriting requirements and eligibility, and review the policy for actual coverage, limitations, restrictions, exclusions, terms and conditions. The Navigators Group, Inc. is an international insurance holding company with insurance company operations, underwriting management companies, and operations at Lloyd's of London Not to be confused with Lloyds Bank or Lloyd's Register. Lloyd's of London is a British insurance market. It serves as a meeting place where multiple financial backers or “members”, whether individuals (traditionally known as . Headquartered in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , Navigators has offices in major insurance centers in the United States, the United Kingdom and Belgium. This press release may contain "forward-looking statements" as defined in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Whenever used in this release, the words "estimate," "expect," "believe" or similar expressions are intended to identify such forward-looking statements. We cannot assure that results that we anticipate will be achieved, since results may differ materially because of known and unknown risks and uncertainties that we face. Please refer to Navigators' most recent Forms 10-K and 10-Q and its other filings with the Securities and Exchange Commission for a description of Navigators' business and the important factors that may affect that business. Navigators undertakes no obligation to publicly update or revise any forward-looking statement. |
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