PROFESSIONAL LIABILITY

DIRECTORS' & OFFICERS'

Directors' and Officers' Liability provides financial protection for present and former directors' and officers' of your company against claims of negligent acts and/or errors and omissions on the performance and duties of management. Since a director can be held personally liable for acts done on behalf of the company, most directors' and officers' will request to be protected rather than put their personal assets at stake.

PROFESSIONAL LIABILITY / ERRORS & OMISSIONS

Professional Liability Insurance, or more commonly known as Errors & Omissions, is a form of liability insurance that helps protect professional advice- and service-providing individuals and companies from bearing the full cost of defending against a negligence claim made by a client, and damages awarded in such a civil lawsuit. The coverage focuses on alleged failure to perform on the part of, financial loss caused by, and error or omission in the service or product sold by the policyholder.

EMPLOYMENT PRACTICES LIABILITY

Employment Practices Liability is used to provide protection against lawsuits from employees alleging wrongful termination, discrimination, harassment or other specified employment related exposures. The policies cover the entity directors and officers, management personnel, and employees as insureds.

FIDUCIARY LIABILITY

Fiduciary Liability provides coverage to trustees, officers or employees of a trust or employee benefit plan against claims alleging breach of fiduciary obligations or failure to prudently act as outlined under the Employment Retirement Income Security Act of 1974. Fiduciaries can be held personally liable for losses to a benefit plan incurred as a result of alleged errors, omissions, or breach of fiduciary duties.

FIDELITY/CRIME INSURANCE

Fidelity/Crime Insurance protects organizations from loss of money, securities, or inventory resulting from crime. Common claims allege employee dishonesty, embezzlement, forgery, robbery, computer fraud, counterfeiting, and other criminal acts. This coverage can be extended to include theft by employees from any Employee Welfare Benefit Plan or Employee Pension Benefit Plan.

KIDNAP, RANSOM, & EXTORTION INSURANCE

Kidnap and Ransom (K&R) insurance covers organizations against financial loss resulting when an employee is seized or detained for ransom or in face of extortion. Kidnapping and extortion are considerable threats to a company and those who service them around the world and traveling overseas. Most vulnerable are organizations with high profiles or with operations that handle large amounts of cash, work with sensitive information or technology. Extortion is defined as "the surrendering of property away from the premises as a result of threat to do bodily harm". Kidnapping is defined as "the actual holding captive of an individual".

CYBER LIABILITY INSURANCE

Cyber and Network Liability coverage is an overlay to property insurance, protecting computer hardware, servers and against hackers, data loss, etc. It is growing in importance as part of business insurance plans as networks, data connections and/or storage become the most valuable assets of companies. More responsibility for the protection of privacy and personal data is falling on businesses. It is the company’s obligation to protect data and financial information of its customers.

REPRESENTATIONS & WARRANTIES

Representations and Warranties insurance only applies to Mergers & Acquisition activity, it helps protect both buyers and sellers involved in these transactions from financial loss in the event inaccuracies in representations and warranties are made by either parties. By obtaining representation and warranties insurance, buyers can distinguish a bid, seller can reduce indemnity obligations and both parties can close deals with ease and confidence.

Representations and Warranties insurance can mitigate or eliminate problems within the escrow requirements, which often lock up sellers to a substantial portion of the sale’s proceeds for an extended period of time. For buyers, escrows offer only limited and imperfect protection against the risk that the seller’s representations and warranties are false or inaccurate, as accessing the funds can be difficult and may require litigation; and funds may be insufficient.

This product is designed to facilitate business transactions by enabling clients to avail themselves of the insurance industry’s capital and transfer certain transaction-related risks to the insurance markets.