Program Features:
- Available as part of our E-Pack program
- Coverage includes the firm, the benefit plans, and the directors, officers, trustees, and employees who administer the plans
- Benefit plans do not need to be scheduled to be covered
- Broad definition of claim includes: formal investigations; written demands for monetary damages and non-monetary relief; civil, criminal, administrative and regulatory proceedings and arbitration
- Broad definition of loss includes: damages, settlements, judgments, defense costs and pre and post judgment interest; punitive and exemplary or multiple damages-if allowable by law.
E-Pack now offers a two-year policy to design professional clients that provides the same comprehensive coverage options for employment practices, directors & officers, and fiduciary liability. Eligibility guidelines for the two-year policy include:
- At least 2 years in operation
- Company assets under $50MM
- No "going concern" opinion or stated weakness in internal controls by outside auditors in the last 24 months
- No D&O or Fiduciary claims, charges or proceedings in the past 3 years. No more than one employment related claim, charge or proceeding with total loss/expense payout less than $25,000 in the past three years.
- Policy limits should not exceed $2MM
- No M&A activity