DIRECTORS & OFFICERS / EMPLOYMENT PRACTICES

NFP-Plantation has access to over 50 different insurers who specialize in a slate of Management Liability Products, such as  Hartford, Chubb, AIG, CNA, Scottsdale, RSUI, Ace, and dozens more.  Management Liability products include:

 

  • Directors & Officers Liability (known as D&O)
  • Employment Practices Liability   (known as EPL)
  • Fiduciary Liability
  • Miscellaneous Professional Liability
  • Crime Insurance

D&O exposures that are covered are:

  • Claims arising from wrongful acts, errors, omissions or mis-statements or mis-representations, neglect of directors and officers of the company in their roles as managers and directors of the business. Coverage extends to any indemnity payments made, claims expenses 
  • Indemnification of officers and directors for their acts on behalf of the business.
  • Includes coverage for those directors who have directorships outside of the insured entity.
  • Healthcare Organization Extension –EMTALA claims: $250,000 sublimit 
  • HIPAA Extension Coverage for Costs, Charges and Expenses, Fines and Penalties. Varius limits are available.
  • IRS Fines and Penalties-Costs, Charges and Expenses Only

Employment Practices exposures include:

Wrongful Acts Claims arising from operations made against Insured’s for:

  • Civil, judicial, administrative, regulatory or arbitration proceedings or formal governmental investigation.
  • Civil action before the EEOC or any other similar governmental body
  • Criminal proceeding brought for an Employment Practices Wrongful Act in a court outside the U.S. against any insured
  • Immigration Claim (endorsement may be available)
  • Wage & Hour Claim (endorsement may be available)
  • Third Parties are covered (such as vendors, independent contractors including staff physicians)

Fiduciary Liability -  this insures the company for errors made in investments inside a 401k or other benefit plan.  We can also add Fidelity coverage (Employee Dishonesty) to a Management Liability policy.  This insures dishonest acts of an employee in connection with a benefit plan.

 

D&O and EPL Articles