Management Liability policies are often comprised of one or more of the following coverages:
Directors & Officers (D&O) Liability
coverage for errors and omissions claims against directors and officers while serving on a board of directors
Employment Practices (EPL) Liability
protection in the event that an employer is faced with claims of unfair practices, such as wrongful termination, discrimination, sexual harassment, invasion of privacy, breach of contract, or wage and hour law
Fiduciary Liability
protects against errors, omissions, and/or mismanagement in the administration of employee benefit plans
Fidelity/Crime Coverage
provides protection for plan participants against theft, fraud, and other deliberate acts by fiduciaries that end in financial loss to a benefit plan
Crimes
- Employee Dishonesty – Provides coverage for theft of money, securities, or property by employees. This coverage can be written with a per loss limit or per employee limit. This coverage is one of the key coverages of a commercial crime policy.
- Computer Fraud – Provides coverage for the theft of money, securities, or property when a computer is used to transfer the money or property from the insured’s premises or bank to another person or place.
- Social Engineering – Provides coverage for organizations if fraudulent party, acting as a legitimate party, influences an employee to transfer money or securities resulting in theft.
- Extortion – Coverage that insures against the loss of money, securities, or property as a result of threat to cause harm to the insured, an insured’s employee, or another party being held captive. Broader coverage can be found with Kidnap & Ransom coverage.
- Kidnap & Ransom – Coverage to help mitigate and reduce risks both at home and abroad. Threats from Kidnapping and extortion to wrongful detention and missing persons benefit from broader coverage involving officers, directors, employees, guests, relatives and even volunteers handling demanded payments.