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Program Resources

 

Specifications:

Contact:
Kathy Curry
(443) 832-2127
Kathleen.W.Curry@schinnerer.com

Target Risks: U.S. owned small design firms with assets of $10 million or less that have a maximum of 50 employees. These firms may have never purchased this type of policy before.

Eligibility: Firms with discrimination, sexual harassment and employee grievance (EPL) policies already in effect; fewer than 3 EPL claims filed with total payments under $50,000 during the business’ life; no anticipated workplace reduction of more than 25% of employees; applicants must be incorporated, an LLC or a partnership.  

Availability: E-Pack EZ is available in all states and the District of Columbia, except NY, WY and PR.

Minimum premium: $750

Minimum deductible: $2,500

Limits: Up to $5 million

Eligibility Guidelines

  • Must be financially stable with no going concern options during the last two years with no expected M&A activity
  • No private or public debt, equity offering or ESOP
  • No plans other than 401k’s or welfare benefit plans
  • No professional licenses revoked or suspended within last two years
  • No litigation within the past three years

Endorsements:

  • E-Pack EZ endorsement GSL-8256XX is attached to EZ GPL policies and includes such enhancements as:
    • Automatic 3rd party coverage
    • Domestic partner coverage
    • Softened hammer clause (70/30)
  • EZ policy endorsements GSL-8256XX and GSL-8258XX are added when both GPL and D&O/Entity Fiduciary are purchased.

Related Documents

 

 

 

Program Features:

  • Offers directors & officers, employment practices and fiduciary coverage in one multi-product package
  • The E-Pack EZ quote provides for a 2-year option unless the insured opts out of it.
  • 40/30/30 payment plan
  • The insurer investigates and defends all claims
  • Punitive damages coverage is available where allowed by state law
  • In most cases, there is no exclusion for acts occurring prior to the policy period
  • Definitions for claim and loss are broad and comprehensive
  • EPLI may be purchased on a stand-alone basis
  • D&O/Entity/Fiduciary coverages cannot be purchased on a stand-alone basis; they must be purchased with EPLI (must purchase the package)
  • Separate limit for loss and defense costs (once the defense costs limit is exhausted, the indemnity limit will not be triggered).
  • Softened 70/30 hammer clause, in which the carrier pays 70% of the settlement costs
  • Automatic coverage for third-party claims