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Private companies, regardless of size and nature of business, face employment claims as well as claims from competitors, customers, suppliers, creditors and shareholders.
In today’s economic environment, private company corporate directors and officers are routinely named in litigation that has become increasingly common and expensive.
To provide protection in these situations, the Executive Liability Division proudly offers an affordable, comprehensive insurance solution specifically for private companies known as the Management Liability Solution 2.0 Policy.
Specifically designed for commercial companies with less than 1,500 employees and less than $250 million in assets, the Management Liability Solution 2.0 Policy is a combined modular professional liability and crime policy offering the following Coverage Parts:
The modular policy structure allows purchase of only the Coverage Parts desired to allow creation of a professional policy tailored to an individual company’s specific needs.1 Coverage features and/or options for the Management Liability Solution 2.0 Policy include the following2:
With $10 million in available capacity and over a decade of experience in this segment, we can address the differing needs of private businesses at all phases of their lifecycle, including periods of heightened exposure such as private placements, debt offerings, mergers and acquisitions (M&A), and/or divestitures.
Private Companies D&O Examples
A lawsuit was filed by a real estate company’s minority shareholder alleging that the controlling shareholders of the company engaged in oppressive conduct toward the minority shareholder by engaging in self-serving behavior in breach of their fiduciary duties. After extensive litigation and after the company incurred approximately $400,000 in legal fees, the parties settled the case whereby the minority shareholder agreed to sell his shares back to the company in exchange for a dismissal of the lawsuit.
Take a look at some more recent private company claim examples.
Find peace of mind with coverage from Great American's Executive Liability Division.
1 The Management Liability Solution 2.0 Policy is available in most but not all states and the Cyber Coverage Parts and Commercial Crime Coverage Part must be purchased with at least one other Liability Coverage Part.
2All coverage features and/or options may not be available to all accounts or in all states, depending on state restrictions and/or underwriting considerations.