Any business, large or small, needs to understand their risk.

Executive Liability insurance products are designed to protect key employees and a company from exposure related to management activities. There are specific policies to cover different risks.

Directors & Officers Liability Insurance protects the company and its managers from claims by third parties such as a customer, vendor, bank/lender, or regulator. Any business should consider Directors & Officers Liability insurance, even if you don’t have a formal board of directors.

Employment Practices Liability (EPLI) protects the business in the event that an employee files a claim alleging that their legal rights have been violated. Suits of this type may include claims of discrimination, sexual harassment, wrongful termination, retaliation, or failure to promote. EPLI can also protect the business from claims brought by third parties such as customers or vendors.

Fiduciary Liability protects those who administer or manage your employee benefit plan (such as a 401k) from allegations that they’ve violated their obligations as a plan fiduciary. For example, participants of a 401(k) could allege that the plan did not offer suitable investment options, like low-fee index funds.

Crime Insurance protects the business should an employee steal money or property, such as inventory. Crime coverage can extend to other forms of theft like Social Engineering, Funds Transfer Fraud, or Forgery and Alteration.

Cyber Liability Insurance provides coverage for your costs to respond to a privacy breach, in addition to coverage for third party lawsuits. Many cyber carriers will also provide access to free risk management resources to help you formulate an incident response plan and assess your cyber security risk.