The Chubb Group of Insurance Companies introduced a set of executive protection insurance solutions designed to address some of the most critical exposures of privately held companies.
ForeFront Portfolio(SM) is comprised of eight distinct coverage sections: directors and officers liability insurance; employment practices liability insurance; fiduciary liability insurance; miscellaneous professional liability insurance; Internet liability insurance; crime insurance; kidnap/ransom and extortion insurance; and workplace violence expense insurance.
Chubb first introduced ForeFront for privately held companies in 1996. The new ForeFront Portfolio builds on the success of the original policy by adding new coverages, such as Internet liability and workplace violence expense, and by providing increased flexibility for clients.
Jane Hodgson, vice president and underwriting manager at Chubb stated that in today’s business environment, private companies are as likely to encounter threats to their financial well-being as are publicly held companies.
Chubb recognized that these threats, including lawsuits, extortion, fraud, embezzlement, workplace violence and other crimes, might come from employees, investors, customers, suppliers, competitors, government agencies, or creditors. According to Hodgson, any one of these threats could have a fatal impact on a private company’s bottom line.
Hodgson said a company might have exposures that it’s not even aware of. Hodgson assured that many of the most complex and potentially catastrophic exposures are protected by ForeFront Portfolio.
ForeFront Portfolio’s eight coverage sections are designed to be flexible so they can be tailored to each company’s needs. Customers can choose individual limits for each coverage section, or a combined aggregate limit for their liability coverage sections.
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