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
gboornazian@bbprograms.com
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
byoung@bbprograms.com
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
cgrant@bbprograms.com
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.