Allied World North America has introduced an enhanced professional risk-transfer organization (“PRO”) professional liability product.
Allied said that this product enabled clients to select and use only the coverages they needed by choosing from a comprehensive array of errors and omissions (“E&O”), directors and officers (“D&O”), employment practices liability (“EPL”), and privacy and network security protection.
The revised product also included an expanded and more robust privacy and network security coverage option where insureds could purchase up to $1 million in additional limits and notification/monitoring costs for up to 75,000 individuals without having to buy an additional policy, the company said. Coverage enhancements (available either as a sub-limit or up to the full policy limit) also included governmental claims coverage for E&O, non-rescindable side A coverage, and derivative demand coverage for D&O claims and third-party EPL coverage.
“We have been consistently dedicated to our insurance company clients for many years. This improved product offers our clients the flexibility that they have been looking for to customize their professional lines coverage to meet their specific needs,” commented Al Fantuzzi, the senior vice president of the North American E&O division at Allied World.
“The legal landscape is constantly evolving and insurance companies are looking for comprehensive options to protect themselves against bad faith litigation and claims against their directors and officers. This product provides wide-ranging protection and choice,” said Joyce Duarte, the vice president of the E&O division at Allied World.
Learn more: www.awac.com.
Victoria Spears
Victoria Prussen Spears is senior vice president of Meyerowitz Communications Inc., a law firm marketing communications consulting company. A graduate of Sarah Lawrence College and Brooklyn Law School, Ms. Spears was an attorney at a leading New York City law firm before joining Meyerowitz Communications. She may be contacted at [email protected].