Zurich’s Specialties’ Management Solutions Group has created a new practice aimed at offering management liability insurance to public emerging growth companies with revenues under $500 million. The new practice, called Public Markets Group, will offer directors and officers (D&O), employment practices liability, fiduciary and crime insurance coverages.
For this market segment, Zurich will offer the public markets endorsement for use in conjunction with the D&O select primary form, according to Beth Goldberg, head of the Public Markets Group for Zurich North America Commercial.
Policy enhancements include:
- Definition of executive officer limited to a company’s chief executive officer, chief financial officer and in-house general counsel
- Employed lawyers coverage extension
- Fully non-rescindable policy
- Increased automatic coverage (up to 35 percent) for newly acquired organizations
- Notice of claim limited to general counsel, risk manager or their functional equivalent
- Alternate dispute resolution requirement deleted
- Disclosure management coverage sublimit
The Public Markets Group will have offices in New York (serving the East Coast), Chicago (serving the Midwest) and San Francisco (serving the West Coast).
Was this article valuable?
Here are more articles you may enjoy.