Products:

Management Liability

Access E&S Insurance has multiple carriers that offer Management Liability coverages.

The core Management Liability coverage components include:

• Directors’ & Officers’ Liability
• Employment Practices Liability
• Fiduciary Liability
• Crime
• Kidnap, Ransom and Extortion

These coverages can be purchased individually or in combination. Most carriers offer all of them on a single policy with dedicated limits for each section, or with a combined shared limit for a reduced premium. Please see below for details on each line of coverage.

Directors’ & Officers’ Liability

Virtually anyone who has a stake in the performance of a company – shareholders, customers, industry competitors, employees and government regulators are potential plaintiffs against its governing body. Initial Public Offerings of stock, Chapter 11 reorganization, Debtor in Possession, risks with loss history, and start-up companies all present unique exposures that many of our markets will consider.

Employment Related Practices Liability

No risk management strategy is complete without some form of protection against employment-related liability exposures. Judgments and awards are increasingly unfavorable toward employers, and most cases settle out of court with payments being paid by the defendant (in many instances without any admission of wrongdoing). Allegations can include: Wrongful Termination, Harassment, Discrimination, Failure to Hire or Promote, Hostile Work Environment, Whistleblower Retaliation, Third Party Acts against employees, violations of Wage & Hour laws and Punitive Damages, as well as other employment related claims.

Fiduciary Liability

The administration of employee benefit plans, including medical plans, retirement plans, life insurance and disability create exposures to claims by those to whom the plans are designed to provide benefits. While some forms known as “Employee Benefits Liability” are generally designed to cover administrative errors only, true Fiduciary Liability covers those perils as well as employer advice (relating to the insured plans) given to employees and errors made in the interpretation of the benefit plan.

Crime

Factoring in protection from employee theft is an unfortunate necessity in any proactive risk management strategy. With millions of dollars being illegally diverted from corporate coffers every year, it pays to protect against theft by company insiders. Third Party Fidelity coverage may also be available in certain instances where the employees have access to funds and property of a customer.

Kidnap, Ransom and Extortion

Another unfortunate reality is the possible kidnapping of corporate personnel for the purpose of obtaining ransom money. While such heinous acts are not a part of everyday life in the United States, sadly they are in many foreign countries. Insuring this peril is an option that should be considered by management when assessing their non-traditional exposures.

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