Everest Insurance has launched a new not-for-profit management liability insurance policy.
In a statement, the insurer said that this new policy “provides protection for not-for-profit organizations across all industries including charitable foundations, healthcare organizations, and educational institutions.”
Coverage is offered in a modular form, with eight coverage parts: directors and officers liability, employment practices liability, crime, fiduciary liability, cyber liability, kidnap and ransom, miscellaneous professional liability, and employed lawyers liability.
“We are very excited to provide a robust product offering that helps mitigate the growing legal exposures facing not-for-profit organizations,” said Salvatore Collura, head of private/not-for-profit lines at Everest. “Whether there are claims for discrimination, harassment, or mismanagement, directors and officers need the backstop of a seasoned insurance carrier with a world class claims team to help them navigate what can be a challenging regulatory and litigation landscape.”
Everest added that the policy included:
- Flexible defense options by coverage part: duty to defend/non-duty to defend/optional
- Expansive inquiry coverage
- Pre-claim expenses
- Continuity coverage for Equal Employment Opportunity Commission charges and written demands first made during prior policy
- Dedicated social engineering fraud limit (crime, cyber)
- Business interruption, including full limit for third party forensic accountant expenses (cyber)
- Applicable to foreign privacy policy laws (e.g., GDPR, cyber)
- Extortion payments include cryptocurrency and bitcoin (cyber)
Learn more: www.everestre.com.