Directors and Officers Liability
Employment Practices Liability
Directors and Officers Liability (D&O) Coverage:
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Protect the personal assets of directors and officers,
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Safeguard the company's assets,
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Reimburse the organization for indemnifying D&Os' losses, and
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Cover defense costs for lawsuits and investigations.
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Employment Practices Liability (EPL) Coverage:
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Protect the company against liability related to its workforce, including but not limited to wrongful termination, harassment, discrimination, defamation, and unfair hiring/firing practices.
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Provide coverage for defense costs associated with responding to employment-related lawsuits or legal situations that may result in liability for the company.
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Our Private Company product is a flexible insurance package offering coverage for Employment Practices, Directors and Officers (with full entity coverage), Fiduciary, and Crime. You can select any combination of these coverages with either separate liability limits for each or a shared limit between them.
Directors and Officers
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Directors and Officers Coverage Highlights
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Comprehensive entity coverage for the Insured Organization
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Extensive coverage for most private securities claims
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Coverage for punitive damages (most favorable venue language) where insurable
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Contract exclusion limited to the Company
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Additional limit available for non-indemnifiable acts
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All entity exclusions carved back for security holder litigation
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Outside directorship coverage for both for-profit and not-for-profit organizations
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Equivalent coverage for foreign entities
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Broad definition of claim
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Inclusive definition of Loss
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No exclusion for failure to maintain insurance
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Final adjudication requirement in dishonesty and personal profit exclusions
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Pollution exclusion amended to cover shareholder derivative actions
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Extensive carve backs concerning the Insured vs. Insured exclusion, including claims brought by any former director or officer solely in their capacity as a securities holder and claims initiated by any bankruptcy trustee
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No retention (when EPL Coverage Section is elected) - subject to availability
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In addition to the aforementioned coverage highlights, General Terms and Conditions include the following benefits:
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Duty to defend form
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Worldwide coverage
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Non-cancelable coverage by Underwriters except for non-payment of premium
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Inclusive definition of Insureds, encompassing Directors and Officers, employees, the corporate entity, and any organization as a debtor-in-possession or a bankruptcy estate of such an entity
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Severability with respect to all exclusions and the application
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Extension for spouses/domestic partners
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Broad definition of subsidiary, including automatic coverage for newly created or acquired subsidiaries without threshold or reporting requirements, and automatic coverage for joint ventures
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Multiple-year run-off and discovery period options offered at time of quote
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Bilateral discovery
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No Hammer clause
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*Please note - the above coverage highlights are for illustration purposes only and should not be construed as policy interpretations.
Employment Practices Liability
Employment Practices Liability - Highlights
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EPL Helpline.
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Broad definition of employees to include leased or contracted individuals, independent contractors and applicants for employment.
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Wage and Hour with limits up to $250,000
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Full retaliation coverage
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Punitive damaged coverage (Most favorable venue language) where insurable
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No exclusion for reduction in force or mass layoffs
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No intentional acts exclusion
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Third party coverage is built into form and is available for an additional premium. Broad definition of third party
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Broad definition of Claim
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Broad definition of Loss inclusive of Prejudgment and Post judgment awards
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Broad Wrongful Act definition
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Immigration defense coverage, with limits up to $100,000
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Additional Limit for Defense Costs is available for an additional premium
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Loss specifically includes front pay and back pay.
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BIPD exclusion modified not to apply to mental anguish or humiliation for all claims
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No prior subsidiary exclusion
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Favorable other insurance provision, such that policy would be primary for Employment practices Claims and excess of other insurance for Third Party Claims.
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In addition to the above coverage highlights, General Terms and Conditions have the following coverage benefits:
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Duty to defend form
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Worldwide coverage
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Coverage non-cancelable by Underwriters except for non-payment of premium.
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Broad definition of Insureds, including coverage for Directors and Officers, employees as well as the corporate entity and any such organization as a debtor -in-possession or a bankruptcy estate of such entity.
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Severability as respects all exclusions and the application.
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Spousal/domestic partner extension
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Broad definition of subsidiary to include automatic coverage for newly created or acquired subsidiaries with no threshold or reporting requirements. Automatic coverage for joint ventures.
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Multiple year run off and discovery period options offered at time of quote.
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Bilateral discovery
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No Hammer clause
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Please note - the above coverage highlights are for illustration purposes only and shall not be construed as policy interpretations.
