Other Insurance Coverages & Options

Front

UMBRELLA POLICY

Back

liability only-additional limits above other liability policies (in $1mil increments)

Front

EXPANDED UMBRELLA COVERAGE

(beyond underlying policies)

Back

worldwide auto & personal injury-Self insured retention (SIR) acts as deductible when umbrella covers and underlying does not

Front

SPECIAL LIABILITY INSURANCE

errors and omissions, professional liability, directors & officers, fiduciary liability (ERISA), liquor liability (occurrence or claims made), employment practices,

Back

Most use claims made form (loss occur before but claim during policy period)

Front

ERROS & OMISSIONS

insurers, accountants, architects, stockbrokers, engineers, consultants, attorneys

Back

defends and pays for mistakes

Front

PROFESSIONAL LIABILITY

"medical malpractice"

Back

protects medical providers from mistakes in treatment/diagnosis-"consent to settle"-need approval to settle by insured so they can defend reputation if need be

Front

DIRECTORS & OFFICERS

Back

protects execs if stockholders claim a loss is due to decisions of executives

Front

FICIDIARY LIABILITY

Back

protects those in charge of private pension & employee benefits plans for violation of ERISA

Front

LIQUOR LIABILITY

manufacturing/distributing/selling/furnishing alcohol

Back

will pay BI claims from intoxication by business (overserved)-CGL excluded this-can be occurrence or claims made basis

Front

EMPLOYMENT PRACTICES LIABILTY (EPL)

wrongful termination, failure to promote, harassment, retaliation

Back

covers directors & officers/current & former employees for claims/lawsuits regarding inappropriate workplace behavior-defense costs

Front

SURETY BONDS

not insurance-surety company subrogates against the principal

Back

promise to do/not do do something=

principal (makes promise)

obligee (receiving promise)

surety-party making sure promise honored