The Hartford Introduces Universal Excess Policy

January 20, 2005

The Hartford Financial Services Group Inc. has introduced Universal Excess, a new excess insurance policy that fits over directors & officers liability, fiduciary liability, employment practice liability, miscellaneous professional liability and tech errors & omissions products issued by any insurer, without the need to work out endorsement language to fill potential coverage gaps.

“Businesses buy excess insurance for additional protection, but it can be difficult to make these policies fit with the specific terms worked out for the primary policies,” said Matt Shulman, vice president at Hartford Financial Products, a division of The Hartford. “Failing to do this properly can leave big gaps that the company’s resources will have to fill, and can also lead to potential liability for broker or agent.”

Universal Excess is designed for public and private organizations of all sizes. Features include:

• The policy follows the primary policy in such key areas as exclusions, definitions and severability clauses;
• The policy allows the underlying limits to be paid by the insured if the primary insurer becomes financially insolvent;
• The Discovery Clause follows the primary policy for extending the claim reporting period;
• The policy is straight-forward and contains no subrogation section, appeals section, or “other insurance” section;
• The policy cannot be cancelled by the insurer except for non-payment of premium. However, the policyholder can cancel in accordance with the primary policy.

Coverage is provided by the member companies of The Hartford and may not be available in all states. See policy for actual coverage wording.

For more information about Universal Excess, brokers or agents, can visit or call Patricia Fitzgerald at (212) 277-0457.

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