National Union Fire Insurance Company of Pittsburgh, Pa., a member company of American International Group Inc., has launched ManagementRisk Protector (MRP), a package of management liability insurance coverages targeted to help small-cap public companies protect themselves from management liability risks and exposures.
Endorsed by the U.S. Chamber of Commerce, MRP provides small-cap companies with the choice of any or all of four essential management liability coverages, including: broad Directors & Officers (D&O) Liability; Employment Practices Liability (EPL); and Pension Trust Liability insurance. Independent Director Liability Insurance (IDL MAX) is also available to insureds for an additional premium.
“Today’s small-cap public companies are facing many of the same disclosure requirements and management challenges as their larger counterparts,” said Peter McKenna, President of the Corporate Accounts Public Company Management Liability Unit of National Union. “Dealing with regulators, employees, litigation-savvy investors, Sarbanes-Oxley and SEC requirements, small-cap companies urgently need higher and more sophisticated levels of protection, at a price they can afford.”
MRP combines management liability coverages into a single package, available with flexible retentions and aggregate limits to maximize cost-efficiencies.
The MRP program also provides loss prevention, claims handling and litigation management to mitigate loss and to help insureds defend against management liability claims from shareholders, employees and others. This includes access to National Union’s Panel Counsel, comprised of leading securities, employment practices and fiduciary litigation attorneys. Under the program, EPL insureds receive EPL Pak Premier, National Union’s proprietary loss prevention package of products and services designed to help companies minimize their employment practices exposures through best practices in training, testing, tracking and compliance in the workplace.
For more information, please contact firstname.lastname@example.org or download the MRP highlight sheet available at www.aignationalunion.com.