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).
Source: Zurich
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