Financial Lines Insurance

Accountants Professional Liability
This policy protects accounting firms and its partners, directors and employees from claims arising out of their activities as an accountant.

Financial Institutions Professional Indemnity and Bankers Professional Liability Insurance (BPL)
Commercial banks, insurance companies and other financial institutions collectively offer a broad range of services to corporations and individuals, including trust management, real estate management and brokerage, securities brokerage, electronic data processing, loan origination, tax planning and wire transfer services. Increasingly, bankers and their institutions are vulnerable to lawsuits alleging failure to render professional services and commitment of errors and omissions in the execution of professional services. BPL insures bankers and banking institutions against claims of actual or alleged wrongful acts, errors, omissions and failure to render such professional services.

Lawyers Professional Liability
This policy protects law firms and its partners, directors and employees from claims arising from activities or out of actions as a lawyer or notary. Coverage may also be available for activities as an outside director of a third party corporation.

Multi Media Professional Liability
This policy provides coverage for publishers and broadcasters for defamation, invasion of privacy, news gathering, intellectual property and errors and omissions lawsuits.

Pension Trust Liability Insurance (ERISA or Fiduciary Liability)
This policy provides coverage for payment of defense costs, settlements and judgments for damages arising out of an actual or alleged breach of fiduciary duty under ERISA or similar common or statutory law for which the insured becomes legally liable. Coverage includes injunctive or non-pecuniary suits.

Professional Association Professional Liability Insurance
This policy provides claims made professional liability and Directors and Officers coverage for associations, trade groups, etc. Those covered include the entity, employees and volunteers. The policy covers most of the exposures involved in providing services to members and includes publisher's liability for newsletters and other association literature.

School Leaders Professional Liability
This policy protects school entities, school boards, employees, student teachers and volunteers against claims of alleged or actual breach of duty, neglect, errors, misstatements, misleading statements or omissions. The policy provides "Insured versus Insured" coverage for lawsuits brought by employees against their employer. Wrongful Acts that can be covered, depending on the policy version, to include the following types of claims:

Claims brought by employees: discrimination, wrongful termination, failure to hire, failure to promote/ train, breach of employment contract, wrongful suspension, sexual harassment, failure to maintain insurance (defense cover only), fiduciary liability for benefit plans (defense cover only).

Claims brought by students: wrongful suspension / expulsion, constitutional violations (i.e. freedom of speech, religion, assembly, privacy), corporal punishment (defense cover only).

Claims brought by parents: failure to provide special education, failure to educate.

Claims brought by vendors: (defense coverage only) breach of contract, unfair bidding procedures, discrimination.

Travel Agents Professional Liability
This policy protects travel agents and tour operators for claims arising out of or incidental to the profession. Coverage may include, bodily injury/property damage, non-owned auto, errors and omissions and personal injury.

Investment Management Insurance
The Investment Management Insurance Policy offers the choice of distinct coverage and allows the Insured to select the coverage that are appropriate for its specific needs. Coverage A - is the Investment Adviser Professional Liability and Corporate Reimbursement. Coverage B - is the Mutual Fund Professional Liability and Directors and Officers Liability and Corporate Reimbursement. Coverage C - is the Directors and Officers Liability and Corporate Reimbursement.

Electronics Data Processors Errors & Omissions
This policy provides claims-made professional liability coverage for any corporation, partnership or individual providing the services of system analysis, software design, computer programming, data processing, system integration, consulting or information retrieval.

For companies based outside of the USA and Canada, coverage may be written on a worldwide basis, including the jurisdictions of the USA and Canada. For USA and Canadian companies, coverage plans are offered for foreign operational exposures and for liabilities arising from products exported from the home country.
 

Commercial Directors and Officers Insurance
The Commercial Directors and Officers Insurance policy provides coverage for claims brought against directors and officers of a company for actual or alleged breach of duty, neglect, misstatements, errors or omissions. Coverage includes advancement of defense costs granted prior to final disposition of a claim for individuals when the corporation cannot provide such costs. Reimbursement for indemnification of directors and officers for any judgments, settlements and defense costs associated with covered claims when the company has indemnified the insured for loss.

Financial Institutions Directors & Officers Insurance
The financial institutions Directors & Officers Insurance policy provides coverage for claims brought against directors and officers of a company for actual or alleged breach of duty, neglect, misstatements, errors or omissions. Coverage includes advancement of defense costs granted prior to final disposition of a claim for individuals when the financial institution cannot provide such costs. Reimbursement for indemnification of directors and officers for any judgments, settlements, and defense costs associated with covered claims when the company has indemnified the insured for loss.

There is a risk to a corporation and its directors, officers, supervisors and employees being named in an employment practices liability lawsuit is greater than ever and continues to escalate. Multinationals with operations in the U.S.A. face some of the largest exposures. The EPLI cover is provided as an endorsement to the Directors and Officers Liability policy or as a stand alone policy and includes a very broad definition of employment practice violation including sexual harassment, discrimination and wrongful termination.

Increased shareholder litigation is fact of life for companies globally, particularly those with US exposures. With this increase in litigation there is a growing awareness of the responsibilities incumbent on directors and officers of companies. This is especially true when the company makes a public offer of its securities. Signatories of a public prospectus have a personal responsibility for its contents and could therefore be found personally liable for the losses fo securities holders arising from inaccuracies or misrepresentations within it. This policy covers insureds for securities claims arising from offerings of a company's securities.

Commercial Crime Bond
This policy coverage provides protection from losses due to: dishonest or fraudulent acts by employees, forgery or alteration, robbery or burglary on premises or of a messenger, loss of money and securities inside and outside the premises, counterfeit currency, computer fraud and credit card forgery.

Fidelity Bonds for Financial Institutions
This policy provides the protection required by Banking and Financial Institutions while being flexible enough to handle tomorrow's needs. The protection provided is against losses caused by employees and external crime committed by third parties. The Financial Institution Bond is a pure financial loss insurance product, which provides balance sheet protection. Coverage is provided in the following areas:

• Employee Fidelity - covers losses resulting from dishonest and fraudulent acts committed by employees.
• On Premises Loss - covers losses from robbery, burglary, misplacement, mysterious disappearance, damage or destruction of property.
• Loss of Property in Transit - covers property stolen while in the care of a bank employee or in the custody of a transportation company.
• Forgery or Alteration - covers forgery or unauthorized changes to securities or negotiable instruments.
• Currency Coverage - covers losses due to receipt of counterfeit currency issued by any country where the institution maintains a branch office.
• The financial institution bond may be expanded to include other exposures such as unauthorized trading losses and breaches of computer system security.