Private Company PROtect℠ allows policyholders to purchase one or more management liability coverage options with separate or shared limits. This approach means each policy can be customized to meet specific risk management needs.
Coverage Highlights
Coverage Available
- Additional $1 million limit for non-indemnified loss for insured persons
- Prior notice given and accepted
- 100% defense cost allocation
- Bodily injury/property damage and Side A carve out for securities claims
- Settlor coverage for fiduciary claims
- Coverage for certain penalties relating to the foreign corrupt practices act (FCPA) and UK Bribery Act where permissible
- Broad definition of a claim including extradition and inquiries
- Express coverage for partnerships and joint ventures
- “Final adjudication” language with full severability
- Harassment for third-party employment practices liability coverage includes both sexual and nonsexual
- Policy non-cancellable except for nonpayment of premium
- Employed lawyers coverage (sublimit)
- No hammer clause
- No acquisition threshold
Coverage Limits
• Maximum aggregate limit: $15 million
• Minimum deductible: $15,000
Appetite & Availability
• Middle-market to upper middle-market private companies
Coverage is always subject to all of a policy’s terms and conditions. This is a summary of certain key aspects of coverage. Review the policy form for complete terms and conditions. Products are underwritten by U.S. insurers that are members of Argo Group. Some products are only available through an authorized surplus lines insurer.
