Corporate Coverage

Personal Corporations

Protection for "personal corporations" is included under the APA program

APA individual coverage (A, B, C) includes personal corporation coverage. This means that, if eligible, the agent’s “personal corporation” is included as an Additional Insured under the APA agent’s E&O coverage.

However, not all corporations are the same, and some, depending on their ownership structure, may not qualify for personal corporation coverage, and would thus require separate corporate coverage.

Please read the information provided here to ensure your personal corporation conforms to the definition within the Master Policy under the APA Master Policy. If you are unsure, please contact ABS Inc.

A personal corporation is defined as a corporation owned by the certificate holder, or jointly with his or her spouse, provided such corporation does not conduct any business independent of the certificate holder nor employs any other licensed or unlicensed agents, but only with respect to its liability as it might arise out of the certificate holder?s activities specified as covered elsewhere in the policy.

Please refer to the master policy wording for actual policy definitions and for business activities covered.

If your corporation qualifies as a personal corporation, then separate corporate coverage may not be required.