Freedom Specialty Insurance Introduces Excess Policy

April 13, 2011

Freedom Specialty Insurance Co. has launched its First Choice excess policy form.

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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