Venture Programs’ Latest Offering: Professional and Management Liability

December 12, 2006

Venture Insurance Programs of West Chester, Pa., (www.ventureprograms.com), a national program administrator, has launched Venture Professional, a professional and management liability solution featuring Directors & Officers (D&O), Errors & Omissions (E&O) and Employment Practices Liability Insurance (EPLI) coverage.

Venture Professional, which is the company’s first heterogeneous program, utilizes multiple admitted and non-admitted insurers as well as Lloyd’s of London syndicates. Available markets will depend on the specified profession and line of business.

“Venture Professional builds on Venture’s experience writing D&O insurance for the boards of private country clubs, E&O coverage for technology companies and fiduciary liability of banks,” said George Tsui, Venture’s executive vice president of underwriting. “This new program will support Venture’s current industry programs, while offering mono-line professional and management liability solutions for a wide range of business classes.”

The program features:

D&O coverage that targets private companies, publicly traded corporations and non-profit groups.

E&O coverage that targets specified professions including, but not limited to, advertising agencies, alarm monitoring companies, community associations, medical billing companies, reinsurance intermediaries, non-profit organizations, surplus lines brokers, travel agents, tour operators and miscellaneous professionals,

EPLI coverage that targets small to large individual companies and affinity groups, from 5 to 10,000 employees, and provides coverage for past and future employees.

Minimum premiums for each of the three coverages will typically start at $1,000 with D&O and E&O limits to $10 million, and EPLI limits of $1 million to $5 million, depending on the type of account.

Source: Venture programs
www.ventureprograms.com.

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