Executive / Management Liability
Insurance that covers exposures faced by directors, officers, managers, and business entities that arise from governance, finance, benefits, and management activities (also called “executive liability insurance”). This includes (1) directors and officers liability insurance, (2) employment practices liability insurance, (3) fiduciary liability insurance, and (4) “special crime” insurance (covering kidnap, ransom, and extortion exposures). These coverage may be written as stand-alone insurance policies or combined into a single, “package” policy and may contain a set of common conditions applying to all of the coverage lines purchased. Management liability “package” policies are usually available only to privately held firms, not-for-profit organizations, and small publicly traded companies (i.e., those with annual sales of under $25 million).