E-Risk’s Management Insured form protects partnership organizations and the General Partners, Directors & Officers, Managers and Managing Members of these organizations.

General Partnership and Management Insured flyer

What we cover:

  • Broad definition of claim 
  • Broad definition of Insureds 
  • Automatic coverage for independent contractors 
  • Punitive damages coverage (Most favorable venue language) where insurable 
  • Defense covered and final judgment wording for fraud exclusion 
  • Coverage for common ownership of less than or equal to 15% 
  • Mergers and Acquisitions clause 
  • Innocent Insured (severability) clause

What we write:

  • Up to $300,000 in assets   
  • Over 300 classes of business 
  • Over 300 classes of business 
  • Non-admitted in all states

Why buy General partner and partnership management insureds coverage?

  • Cost of defending corporate lawsuits may exceed the net worth of most private companies  
  • Judgments can be financially crippling  
  • Corporate indemnification may not be available  
  • Adverse shareholders and other potential claimants may exist  
  • Bad business decisions are likely to be more visible due to small business environment thus attracting the attention of shareholders, partners, regulators and others  
  • Business decisions made by General Partners or D&O’s can quickly impact the finances and operations of a company
  • General Partners and D&O’s work in demanding environments as they cover more corporate duties  
  • Unique conflicts of interest may exist due to complexity of responsibilities  
  • Companies will have a difficult time attracting qualified individuals to their Boards without MIC coverage  
  • Flexibility to provide General Partners and Partnership liability (GPL), Managers and Limited Liability Company liability (LLC), and/or Directors & Officers liability (D&O) under one Coverage Section 
  • 90-day coverage Extension Clause to provide automatic coverage for newly established partnerships

Applications

Applications

Understanding coverage
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  • Broad definition of claim 
  • Broad definition of insureds 
  • Automatic coverage for independent contractors 
  • Punitive damages coverage (most favorable venue language) where insurable 
  • Defense covered and final judgment wording for fraud exclusion 
  • Coverage for common ownership of less than or equal to 15% 
  • Mergers and Acquisitions clause 
  • Innocent Insured (severability) clause
  • 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

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 hammer clause  
  • $5MM in capacity for each coverage section. Options for combined or separate limits of liability are available on every account.  
  • $0 retention on the Directors and Officers and the Fiduciary coverage sections if the Employment Practices elected.  
  • Competitive retention options available for Employment Practices coverage.  
  • Additional limit available for non-indemnifiable acts on Directors and Officers  
  • Additional limit for defense costs is available on Employment Practices  
  • 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

E-Risk Services specializes in private company D&O insurance for many types of organizations, including real estate, high-tech, biotech, start-ups or long-established organizations.   

Some, but not all, of the classes of business E-Risk insures are listed below:

  • Accountants  
  • Advertisers  
  • Alternative energy  
  • Automotive services  
  • Collection agencies  
  • Contractors   
  • Co-ops  
  • Daycare centers  
  • Distributors   
  • Defense contractors  
  • Employment/staffing firms  
  • Franchisee and franchisor
  • Heathcare
  • Information technology   
  • Insurance agents/brokers
  • Life sciences
  • Manufacturers
  • Medical billing
  • Personal services
  • Professional services organizations
  • Retail
  • Real estate
  • Restaurants
  • Telecommunication
  • Transportation services
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