ProCorpSolutions+ Directors and Officers Liability Coverage Description Directors and Officers are fiduciaries of the corporation they serve and therefore carry with them a host of legal obligations. They can be held personally and financially liable for actual or alleged breach of duty in the course of managing the affairs of a corporation and ensuring its compliance with the numerous laws and regulations that govern its operations. D&O insurance covers liability claims against a company’s Directors and Officers. Target Clients > Technology (Hardware, Semiconductors, Software, Internet, Consulting) > Manufacturing > Biotech & Healthcare (Life Sciences, Medical Devices) > Banks (Global, Investment, Money Centre, Regional, Community) > Financial Services (Insurance Companies, Investment Advisors) > Entertainment & Leisure (Casinos, Hotel Chains, Restaurants) > Construction & Real Estate (Home Builders, REITS) > Utilities > Retailers We have a specific product available for Private Equity and Venture Capital companies. The product offers insurance protection in the event of claims for: > Misrepresentations or mis-statements > Negligent decisions > Breaches of duty > Breaches of confidentiality > Errors or wrongful acts by general partners > Mismanagement by directors and officers > Employment practice violations > Cost of correction cover (cover for costs of recalculation, public relations etc following an error or omission) > Loss mitigation cover (explicit cover to allow fast unwinding of an error without the need for underwriter permission) > Cover for attendance at regulatory investigations > Cover available for all outside directorships & advisory board members Our Investment Managers and Funds Liability insurance offers a solution for entities looking to carry professional and managerial liability insurance to protect their exposure from perils such as: > Misrepresentation > Negligent mis-statements > Breach of duty > Breach of investment mandate > Negligent investment decisions > Negligent management/board decisions > Fraud or dishonesty > Cost of correction cover (cover for costs of recalculation, public relations etc following an error or omission) > Loss mitigation cover (explicit cover to allow fast unwinding of an error without the need for underwriter permission) > Crime insurance cover > Attendance at investigations > Automatic new outside Board positions > Automatic new fund cover   Fiduciary Liability The Employee Retirement Income Security Act (ERISA) of 1974 was designed to protect the rights of private pension plan participants. Fiduciaries of all employee benefits plans, including welfare plans and pension plans, assumed new responsibilities relating to the management and administration of benefits plans. Under the law, a fiduciary can be held personally responsible for shortages in the benefit plan's assets resulting from a breach of fiduciary duty, such as improper investment of funds. What Fiduciary Liability protects: > Fiduciary liability protects welfare and pension plans, the sponsor organization, and individuals acting as fiduciaries or administrators of the plans > The policy covers liability arising out of violations of any of the responsibilities, obligations, or duties imposed upon fiduciaries by ERISA > Also covered is liability arising out of such activities as: > Counselling employees with respect to welfare & pension plans > Providing interpretations of the plans > Handling records or administering enrolment > Termination or cancellation of employees under the plans Capacity Lloyd’s and London markets regularly provide aggregate limits in excess of US$10,000,000 (commercial) and US$100,000,000 (financial) in either Primary or Excess positions. In addition, we have full access to significant capacity in the Bermudian and European markets. Documents ACE FraudProtector Policy ACE ACE FraudProtector Proposal Form ACE IMI ACE Investment Managers and Funds ACE IMI Proposal Form Ace Venture Capital Policy ACE Venture Capital /Private Equity Liability Insurance Ace VCAP Proposal AFB Non-Profit Management Liability AFB Non-Profit Management Liability AFB Non-Profit Management Liability Application Beazley One PCL Application Beazley One PCL Wording Crime and fidelity action sheet Directors, Officers & Company Liability Policy AFB Fiduciary wording AFB Fiduciary application AFB Fiduciary declaration Beazley Fiduciary Product Sheet