Private Company PROtect℠

Private Company PROtect is a management liability package product offering private companies access to various coverages under one policy.

Private Company PROtect is a management liability package offering private companies access to various types of coverage – directors and officers, employment practices, fiduciary, and cyber liability – under one policy. Private Company PROtect is flexible in allowing policyholders to purchase one or more management liability and professional liability coverage options with separate or shared limits. This approach means each policy can be customized to meet specific risk management needs.

Coverage Highlights

Coverage Available

• Express coverage for partnerships and joint ventures

• Automatic coverage for new subsidiaries under management control; no asset/revenue threshold

• Post-policy reporting window:

– 90 days for directors and officers coverage if not renewed

– 180 days for directors and officers coverage if renewed

– 60 days for reporting claims under other agreements

• Priority of payments for the benefit of insured persons

• Prior notice – given and accepted

• Predetermined run-off options included

• 100% defense cost allocation

• Non-rescindable

• Only knowledge of CEO/CFO imputed to the entity and other insureds

• Hammer clause deleted for all policy sections

• Insured versus insured prior service carvebacks – 2 years

• Other insurance provision: primary to private equity/personal umbrella policies

• Bodily injury property damage carveout for securities claims and Side A

• Harassment for third-party employment practices liability coverage includes both sexual and nonsexual

• Fiduciary wrongful acts include settlor

Included Under One Policy

• Directors and officers liability coverage

• Employment practices liability coverage

• Fiduciary liability coverage

• Cyber liability coverage

Coverage Limits

• Maximum capacity: $15 million

• Minimum deductible: $10,000

• Minimum premium: $7,500

Appetite & Availability

• Middle-market to upper middle-market private companies

Resources

Contact

Richard Edsall

Senior Vice President, Commercial Management Liability

732-692-6163