Directors and Officers Liability Insurance provides coverage for claims brought against the directors and officers by those alleging breach of duty, mismanagement, negligence, errors, omissions, misstatements, misleading statements and misrepresentation in their day-to-day management of the organization.
For Private Companies, coverage extends to:
Board of Directors
Officers of the Company
Employees
The Organization
For Public Companies, coverage extends to the following parties:
Board of Directors
Officers of the Company
Employees (on a co-defendant basis)
The Organization (For Securities Claims)
For Partnership Programs:
General Partners of the Limited Partnership
Limited Partnership for Securities Claims
Employment Practices Liability provides coverage for claims brought by past, present, prospective employees, and in many cases customers and vendors against the organization alleging harassment, discrimination, wrongful termination, hostile work environment or failure to hire or promote.
Who’s covered:
The organization
Employees
Independent Contractors (if indemnified as employees)
Fiduciary Liability Insurance provides coverage for claims brought against the organization alleging errors, omissions, misstatements, and mismanagement with respect to welfare and pension plans of the organization.
Who’s covered:
The organization
Fiduciaries
Plan Trustees
Directors and Officers
Crime Insurance protects the organization from the loss of money or property caused by employee dishonesty, on premises, in transit, forgery and alteration, or via computer systems.
Who’s covered:
The organization
Its subsidiaries
Its pension plans as required by ERISA
Kidnap and Ransom insurance provides protection for the organization for perils including: kidnappings, extortion with the threat of bodily injury; extortion with the threat of property damage; and wrongful detention.
Who’s covered:
Directors and Officers
Employees
Family members of the insured
Guests
Customers
Clients
Professional Liability coverage provides protection for claims alleging negligence, breach of duty, and failure to perform or execute professional services on behalf of a client or customer. The definition of professional services, a key trigger under these policies, is customized to match the services provided by an organization to its customers or clients.
Who’s covered:
The organization
Directors and Officers
Employees
Network Security coverage provides protection for the organization for third party suits resulting from the failure of a network’s security to prevent or mitigate a computer attack, whether that attack was arranged internally or externally. The Privacy Liability portion of the policy provides coverage for suits alleging the unauthorized disclosure of personal and confidential information in your care, custody or control and/or violations of privacy regulations.
Coverage Includes:
Notification costs: Expenses related to notifying affected parties that their confidential information has/or might have been breached.
Network Business Interruption Expense: Reimbursement of loss, income, or extra expense resulting from the interruption or suspension of your computer system due to a failure of network security to prevent or mitigate a computer attack.
Cyber Extortion: Ransom and investigative expenses associated with a threatened computer attack or privacy breach
Data Asset Protection: Costs to recollect, restore or recreate electronic data, software or other applications that have been altered, corrupted, destroyed, deleted or damaged by a computer attack
Trade credit insurance or accounts receivables insurance provides protection from non-payment or insolvency of a customer. This is ideal for an organization that is dependent on several key customers.
Transactional risk products protect for specified perils related to mergers and/or acquisitions. These products may be purchased by either the buyer or a seller to ring fence or address specific issues related to an M&A transaction.
The main products available to those covered are:
Representations and Warranties
Tax Liability Insurance
Legal contingency Insurance
Environmental liability insurance