Private Company Highlights

Victor O. Schinnerer & Company’s Private Company Management Liability program protects privately held firms with skillfully-underwritten directors & officers liability, employment practices liability, fiduciary liability, crime, and kidnap & ransom policies.

Availability: Admitted in most states and D.C.*
New Rate Plan: Available in 40 states and D.C.**
Minimum premium: $5,000 (single coverage part)
Limits: Up to $10 million
Retention: as low as $1,000 for eligible risks
Coverage: Admitted, with an A rated carrier

Target risks: Privately held organizations with up to $1 billion in total assets  

Ineligible classes: Financial institutions, health care institutions, educational institutions

*Initial state filings are pending in AK, HI, LA, NY, PR, VA, VT
** New rate plan is pending approval in AK, FL (crime), HI, IL (crime), LA, MA, NY, VA, VT, WA 


  • Broad definitions of claim, insured, and loss
  • Severability among insureds for exclusions and representations
  • 25% asset threshold for automatic coverage of new acquisitions or benefit plans
  • No hammer clause for D&O or fiduciary liability
  • Softened 80/20 EPL hammer clause
  • D&O and fiduciary liability are nonrescindable
  • Shared or separate limit options available
  • Limits up to $10 million per policyholder
  • Subrogation linked to fraud exclusion wording
  • Nonprofit outside directorship coverage
  • D&O preclaim inquiry response for nonindemnified loss
  • Side A difference in conditions
  • Defense outside the limit: no more than $1 million
  • Clarified coverage for Employee Stock Ownership Plans (ESOPs)
  • Defense for breach of contract exclusions
  • Enhanced third-party EPL


  • Coverages include employee theft, third-party employee theft, computer crime, forgery, counterfeit currency, investigation expense, etc.

Kidnap, Ransom & Extortion

  • Responds to ransom demands, extortion, emergency political repatriation, detention, hijack, etc.

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