View this article online: https://www.insurancejournal.com/news/national/2009/09/15/103750.htm
Valiant Insurance Group, Inc. (Valiant) has introduced a new package policy that provides a suite of primary management liability coverages tailored to the specific needs of small and medium-sized private companies.
The “Private Company SAFEGUARD” package policy includes: directors and officers, employment practices and fiduciary liability. In addition, clients can choose either a combined single limit for all their liability coverage sections or separate aggregate limits of liability for each individual coverage section.
The new management liability package policy also includes assistance with employment-related claims, the fastest growing area of risk for small and medium-sized companies. Valiant recently partnered with Jackson Lewis LLP, a nationally-recognized law firm that specializes in employment practices issues, to offer clients access to the firm’s expertise about workplace issues. Jackson Lewis has 40 offices and over 500 attorneys across the United States. Clients who purchase employment practices liability will have access to various Jackson Lewis services, along with a call-in hotline. This feature will allow Valiant clients to pose questions about workplace concerns and current workplace legal topics, which will better prepare clients to deal with potential legal challenges.
Coverage highlights include:
• No securities exclusion for private placements exempt from ’33 Act registration or for the failure of insureds to undertake or complete a public offering.
• Broad definition of loss includes back pay and front pay.
• Optional coverage available (by endorsement) for claims by third parties for discrimination.
• Optional defense expense coverage available (by endorsement) for wage and hour claims.
• Coverage extended for costs and sanctions paid to the IRS under a Voluntary Compliance Program.
The “Private Company SAFEGUARD” management liability policy is sold exclusively through independent agents and brokers.
Source: Valiant Insurance Group,
www.valiantinsurance.com