Freedom Specialty Insurance Co. has launched its First Choice excess policy form.
The coverage includes:
- Policy follows “followed policy,” easy to ensure terms match the “followed policy”
- Reduction or exhaustion of underlying limits coverage section includes wording for payment by “underlying Insurer,” “insured” and “DIC insurer”
- No discovery provision, policy will use the terms of the “followed policy”
- No termination or cancellation provision, terms as per “followed policy”
- No pending and prior litigation exclusion, policy will use the language of the “followed policy”
- Policy can sit above any of Freedom Specialty’s products—directors & officers, fiduciary liability, private equity, asset management and other management and professional liability coverages
- Up to $20 million in available capacity
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