St. Paul Travelers has launched a new management liability insurance program for members of the National Association of Manufacturers (NAM). The program is administered exclusively by Aon Association Services, a division of Aon’s Affinity Insurance Services Inc.
The new NAM-Sponsored Insurance Portfolio program reportedly provides affordable and much-needed management liability and crime coverage to manufacturers of all sizes. This program offers coverage to address directors’ and officers’ liability, employment practices and fiduciary liability, fidelity, and kidnap and ransom exposures.
Qualified insureds also receive access to Risk Management PLUS+ Online, which offers tools to help employers manage and reduce their exposure to employment-related and/or fiduciary suits.
In particular, the new program reportedly makes it easier for manufacturers to get vital financial protection against costly litigation for claims arising from employees, shareholders, customers, clients, competitors, contractors, government entities and more. NAM members insured through the program will receive a 10 percent discount (subject to state approval).
Each year, liability claims against directors and officers of public and private manufacturers result in millions of dollars in defense costs and liability. In the current environment, where serving on a corporate board comes with increased risk, many potential candidates reportedly look to corporations to provide management-liability insurance. This NAM-sponsored program ties in with the organization’s continuing campaign to improve the climate for manufacturing in the U.S.
For more information, call (800) 432-7465 and ask for Paul Bondy, Aon Association Services, or complete the reply form online at www.nam-aon.com.
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