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Professional Liability insurance provides protection against claims that
the policyholder becomes legally obligated to pay as a result of an
error or omission in his professional work. Also known as Errors and
Omissions insurance, this type of professional liability insurance is
critical to your business. E&O insurance responds to claims of
professional liability in the delivery of your technical services. Allow
us to customize an errors and omissions insurance policy for you that is
affordable and effective. DIRECTORS AND OFFICERS LIABILITY INSURANCE Directors and officers liability insurance (D&O) covers directors and officers of a company for negligent acts or omissions and for misleading statements that result in suits against the company. D&O policies usually contain two coverages: personal coverage for individual directors and officers who are not indemnified by the corporation for their legal expenses or judgments against them (as some corporations are not required by their corporate or state charters to provide indemnification) and corporate reimbursement coverage for indemnifying directors and officers. Entity coverage for claims made specifically against the company may also be available. D&O policies may be broadened to include coverage for employment practices liability (EPL). EPL coverage may also be purchased as a stand-alone policy. EMPLOYMENT PRACTICES LIABILITY Employment practices liability insurance provides protection for an employer against claims made by employees, former employees or potential employees. It covers discrimination (age, sex, race, disability, etc.), wrongful termination of employment, sexual harassment and other employment-related allegations and lawsuits. Fiduciary Liability Insurance pays, on behalf of the insured, the legal liability arising from claims for alleged failure to prudently act within the meaning of the Pension Reform Act of 1974. “Insured” is defined as a trust or employee benefit plan, any trustee, officer or employee of the trust or employee benefit plan, employer who is sole sponsor of a plan and any other individual or organization designated as a fiduciary. Group life and medical expense plans, as well as pension and retirement plans, are within the scope of the Pension Reform Act of 1974.
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* These descriptions are for
informational purposes only. Read your policy for specific descriptions
contained in any policy you purchase.
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