What types of professional liability coverage are available?
Directors and Officers (D&O)
Directors and officers liability insurance helps cover defense costs and
damages that might occur from wrongful act allegation and lawsuits against a
company’s board of directors and/or officers.
Employment Practices Liability Insurance (EPLI)
Help protect your business in the event of a claim alleging wrongful employment practices, such as discrimination, sexual harassment, retaliation, and wrongful termination with employment practices liability insurance.
Fiduciary Liability
A fiduciary is someone who is involved in any way with the administration of their business’s retirement or health plan for employees. Under the Employee Retirement Income Security Act (ERISA), fiduciaries can be held personally liable for a breach of fiduciary duties of selecting advisors and investments, reducing expenses and following plan documents exactly.
Who needs professional liability coverage?
All organizations and their leaders are vulnerable to a multitude of professional liability exposures, and could benefit from professional liability coverage, especially:
- Financial institutions
- Nonprofit organizations
- Private companies
- Public companies
What do these coverages cost?
The cost of these types of coverages will depend on various factors, such as, asset portfolio, number of staff, debt and legal history.
Disclaimer: Statements on this website as to policies and coverages provide general information only. All coverages are subject to terms, conditions and exclusions of the actual policy issued.