Fiduciary
Applications
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- Covered defense costs to be in addition to limits of liability
- Claim specifically includes proceeding before the Department of Labor or the Pension Benefit Guaranty Corporation
- Coverage for single employer plans, including Employee Stock Ownership Plans
- Defense costs coverage for 5% and 20% penalties imposed under 502(i) and 502(l) of ERISA
- No discrimination exclusion
- Automatic coverage for newly acquired or created plans
- HIPAA Coverage
- Ability to give Notice of potential claims during Discovery Period
- Automatic waiver of recourse provision
- Full severability of all exclusions
- No retention (when EPL Coverage Section purchased)
- Duty to defend form
- Worldwide coverage
- Coverage non-cancelable by underwriters except for non-payment of premium.
- 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.
- Severability as respects all exclusions and the application.
- Spousal/domestic partner extension
- 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.
- Multiple year run off and discovery period options offered at time of quote.
- Bilateral discovery
- No Consent to Settle clause
- *Note: the above coverage highlights are for illustration purposes only and shall not be construed as policy interpretations.
Target Segments
- Up to $100M in plan assets
- Ability to consider ESOPs
- Admitted in 46 states
Terms
- $5MM in capacity for each coverage section. Options for combined or separate limits of liability are available on every account.
- Duty to Defend with no Consent to settle clause
Underwriting
Eligible and ratable online submissions will not be referred to an underwriter unless the risk has either claims or a net loss greater than $3MM. Some benefits of our underwriting services include:
- Simplified application
- No financials
- No handbooks
- No articles of incorporation needed on most accounts
Target classes
Target classes included but not limited to:
- Accountants
- Advertisers
- Alternative energy
- Automotive services
- Collection agencies
- Contractors
- Co-ops
- Daycare centers
- Distributors
- Defense contractors
- Employment/staffing firms
- Franchisee and franchisor
- Healthcare
- Hospitality
- Information technology
- Insurance agents/brokers
- Life sciences
- Manufacturers
- Medical billing
- Personal services
- Professional services organizations
- Retail
- Real estate
- Telecommunication
- Transportation services
Get a quick quote or fill out a full application online