Executive Liability, the newest program within Protector Plans, has launched a Primary and Excess Management and Professional Liability product. This is a new program supported by a team of experienced underwriters, product specialists, and claims professionals; with the backing of an A (XV) rated carrier. Protector Plans Executive Liability (PPEL) will target private and not-for-profit companies through a limited and preferred distribution model in the middle-market space across a broad spectrum of industry classes.
Program Highlights
Coverages Available
- Directors and Officers Liabiliy
- Employment Practices Liability
- Fiduciary Liability
- Employed Lawyers
- Crime
- Miscellaneous Professional Liability
Limits Available
- Up to $5M per coverage section
In-House Claims Handling
- Claims handled in-house through Protect Professionals Claims Management
Primary Policy Features
All Coverage Parts
- Duty to Defend
- No “hammer clause”
- Non-rescindable coverage
- Coverage enhancements designed for Professional Firms and Healthcare are available
D&O Liability Coverage Highlights
- Expanded definition of Executive includes De Facto Director, Board Observer, member of Board of Managers or Advisory Board, and inhouse general counsel
- Additional limit available for Executives up to $1,000,000
- Sublimits available for Derivative Demand Investigations, Books and Records Requests, Crisis Management Reimbursement Antitrust Claims, Asset Protection Costs, Executive Public Relation Costs; PreClaim and Pre-Tender Expenses, and UK Corporate Manslaughter Act Costs.
Employment Practices Liability Coverage
- Coverage includes Independent Contractors
- Sublimits available for Crisis Management Reimbursement, Illegal Hiring or Harboring Wrongful Acts, Workplace Violence, and Wage & Hour Defense.
Fiduciary Liability Coverage Highlights
- Wrongful Act includes acting in a settlor’s capacity with respect to any Plan
- Sublimit available for Voluntary Settlement Program Costs and Crisis Management Reimbursement, and Certain Foreign Penalties
- Coverage for certain fines and penalties including those imposed by ERISA, HIPAA, Pension Protection Act, Affordable Care Act and the Internal Revenue Code
Crime Coverage Highlights
- Loss discovered coverage
- Coverage for theft caused by broad class of employees and independent contractors
- Coverage available for social engineering fraud • No police notification requirement
- Notification required if Insured or Executives reasonably believes loss or damage of Money, Property or Securities will exceed 50% of Deductible
- Optional coverage available for Personal Account Protection for Forgery or Alteration, Identity Fraud, and Ownership Interest Carveback
Employed Lawyers Coverage Highlights:
- Sub-limits available for General Counsel Replacement Reimbursement, Subpoena Defense Expenses, and Defense Expenses for responding to a written request to toll or waive a Statute of Limitations
- Wrongful Act includes malicious prosecution and abuse of process
Miscellaneous Professional Liability Coverage Highlights
- Sublimit available for Disciplinary Proceeding Expenses • Coverage for Personal Injury included
- Optional coverages include a sublimit for Limited Pollution (compensatory damages only), Loss of Earnings and Attendance Expense Reimbursement, Media Liability sublimit, Pre-claim Assistance, Subpoena Assistance, Contingent BI/PD, Tenant Discrimination and Crisis Management Reimbursement
- Optional endorsement to include Independent Contractors in definition of employee
- Non-Monetary Damages Defense Expense included
Meet The Executive Liability Team
Greg Boornazian
Executive Underwriter
[email protected]
813.222.4229
Greg has over 11 years of experience in the D&O industry. His previous experience includes managing both public and private D&O books of business. Leadership roles at both MGU’s along with established national carriers led to his new role within Protector Plans.
Ben Young
Executive Underwriter
[email protected]
214.973.9125
Ben joined the executive liability team as a management and professional liability specialist with over 20 years’ experience including underwriting and brokerage roles. Ben has earned multiple designations, including MBA, CPCU, and RPLU.
Craig Grant
Chief Underwriting Officer
[email protected]
813.222.4031
Craig has over 25 years of industry experience. He has previously held leadership roles in both start-ups and well-established portfolios. Over his career, Craig has led financial lines segments, accident & health, and workers’ compensation as a CUO and Product Manager.