Zurich N.A. Enhances Private Solutions Coverage

Schaumburg, Ill.-based Zurich North America, a leading commercial property-casualty insurance provider, announced that it has expanded its popular Zurich Private Solutions(SM) insurance coverage.

The Zurich Private Solutions insurance coverage (provided under the private company directors, officers and employment liability policy) was introduced in 1997 with employment practices liability and directors and officers coverages as a flexible way for middle market, privately-held companies to manage risk.

Today, the Zurich Private Solutions — enhanced policy has been created to include several management liability offerings under one form for privately-held, middle market companies with less than $250 million in assets and fewer than 750 employees. Zurich Private Solutions — enhanced is designed as a comprehensive solution that can address the many types of management liability exposures these companies face. Coverages include employment practices liability purchased in conjunction with directors and officers liability, and fiduciary liability, crime, and kidnap/ransom and extortion.

With Zurich Private Solutions — enhanced, insureds can choose from a full line of management liability products up to one aggregate limit of $25 million. The policy can include:

— Directors and officers liability, which provides broad protection for directors, officers and the entity company (if purchased) from financial impact when claims are made against the director or officer for committing negligent acts, omissions or misleading statements. Coverage is also provided for directors and officers serving on the boards of middle market private and not for profit organizations.

— Employment practices liability insurance, which protects against claims made by or on behalf of employees for a wrongful employment act, including allegations of wrongful termination or treatment, discrimination against any protected classes and harassment. Risk management services include an online database of timely employment-related legal information and an individual membership in the Society for Human Resource Management. Insureds can also secure an additional limit for defending EPLI claims.

— Fiduciary liability insurance, which provides protection for claims with respect to the insured’s fiduciary responsibility in administration and management of benefit programs for employees.

— Crime insurance, which protects against fidelity losses such as those due to employee dishonesty, credit card forgery, computer fraud and wire transfer, and the disappearance and destruction of property.
Additional enhancements are available to extend coverage for special needs like investigative expenses and global exposures.

— Kidnap/ransom and extortion insurance, which provides the resources to respond to the financial demands of kidnapping.