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 and non-financial services 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:
- Directors’ and Officers’ and Entity Liability Coverage
- Employment Practices Liability Coverage
- Fiduciary Liability Coverage
- Cyber Liability Coverages (separate 3rd party and 1st party Coverages)
- Commercial Crime Coverage
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.1Coverage features and/or options for the Management Liability Solution 2.0 Policy include the following2:
- Liability coverage parts offered on both a shared limit and separate limit basis
- Optional dedicated defense costs limit of $1 million offered for all Liability Coverage Parts
- Non-rescindable insuring agreements and favorable severability language
- Additional dedicated A-Side Excess limits for qualifying accounts
- Streamlined email claim reporting option to firstname.lastname@example.org
- EPL Risk Management program available to policy holders through the outside law firm Littler Mendelson P.C., including access to their state-of-the-art risk management website. The loss prevention services provided to the policy holder are available with the purchase of a policy.
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.
11The 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.