Management liability coverages provides broad protection for alleged wrongdoing related to the management and administration of a non-profits.
Availability: Admitted in all states and D.C. (except VT)
Coverage: Admitted, with an A rated carrier
Commission: Receive the same commission for both new submissions and renewals
Limit: Up to $20 million
Target risks: Trade and professional associations, charities, museums, senior care organizations,
performing art groups, animal shelters, social clubs and
many more classes.
Ineligible risks: Healthcare organizations, government entities, PACs, financial services
organizations, and labor unions
Recent Enhancements
- Even more competitive rates overall and within separate
coverage parts*
- Workplace Violence sublimit (EPL) up to $250,000
- Broadened Definition of Third Party Wrongful Act (EPL)
- Social engineering sublimit (Crime)
- Defense outside the Limit to match the primary limit up
to $5,000,000
- Additional Side A Limit up to $1,000,000
- Fiduciary enhancements – lowered rates, expanded
definition of damages & settlor coverage
(*Filing pending in AK, KS, MA, NY and VA)
D&O/EPL/Fiduciary
- Shared or separate limit options
- Limits: $250,000 - $20 million
- Admitted in all states except VT
- Automatic renewals available for most policies under $7,500 in expiring premium
- Defense outside the limits available (except golf and country clubs)
- Arbitration and mediation incentive for D&O coverage
- First dollar defense for D&O claims only
- Directors, officers, employees, volunteers, committee members and the entity are covered under D&O policy
- No D&O hammer clause
- The definition of loss under for D&O coverage includes any actual or alleged act, omission, error, misstatement, misleading statement, neglect or breach of duty, including any actual or alleged personal injury or publishers liability, by any insured person in his or her
capacity as such with the company
- Softened EPL hammer clause (70/30)
- EPL coverage extended to independent contractors
Crime
- Limits: $100,000 - $3 million ($5M for employee theft/computer fraud)
- Admitted in all states except AK, CA, MT, VT & VA
- Available coverages include employee theft, forgery/alteration, inside the premises loss, in transit loss, money orders/counterfeit money, computer crime, funds transfer fraud, personal accounts protection, and claims expense
Kidnap, Ransom & Extortion
- Limits: $1 million - $3 million
- Admitted in all states except MA, MT, NH, NY, PR, VT & WA
- Reimburses cost associated with kidnap, detention, extortion, or hijack
- Ransom cost, crisis response fees, accidental death and dismemberment, and additional expenses
Excess Coverage
- Limits up to $10 million
- Available up to the limit of primary coverage plus any current excess coverage
- Obtain quote by emailing primary terms and terms of any existing excess coverage to
managementliability.us@victorinsurance.com.
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