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Professional Liability and Directors & Officers Liability
In these times of increasing litigation, the need for protection of the individual and corporate body has never been greater. No business is immune and the results can be devastating. That’s why the ACE Group offers secure and stable professional and management liability coverages as a strategy for self-defense.
Company directors and officers are subject to substantial risk of personal liability associated with their management responsibilities to the company and its shareholders. Professionals are accountable to a multitude of third parties who can put them at considerable personal financial risk because of the type and quality of services rendered. ACE’s policies indemnify companies against not just the legal liability, but also the wider liability as a result of a breach of duty owed in a professional capacity in connection with the firm’s business.
Product Highlights
Special Features
Target Audiences
Product Highlights
With more than 60 years of experience, ACE is an internationally acknowledged provider of professional liability, directors & officers liability, and other financial insurance. ACE offers a range of products designed to offer stable, high net line capacity to companies.
- Directors & Officers — Provides financial protection to individuals for liability imposed on them whilst acting in their capacity as a director or officer.
- CODA — An innovative policy form designed to provide personal asset protection to directors and officers in situations where indemnification is unavailable or when traditional insurance programs fail to respond
- E-commerce services — Coverage for companies regarding the operation of Web sites with online shopping, credit card transactions, professional advice, chat rooms, etc.
- Employment practices liability — Protection against legal liability for wrongful termination, discrimination or sexual harassment
- Fidelity and crime — Protection against theft by employees and independent contractors
- Fiduciary liability — Coverage for claims or lawsuits brought against entities, pension plan trustees, directors and officers, and employees of a company
- Professional liability/errors & omissions — Protection against loss or expense resulting from alleged or real negligent acts, errors or omissions in the performance of professional services
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Special Features
- Worldwide coverage through ACE network of 50 countries
- Policies designed to provide tailor-made coverage for a diversity of professional liability classes
- Unique products such as fraudProtector, which provides protection for businesses not only from the losses incurred by employee dishonesty but also from losses caused by third parties in various scenarios (excluding U.S.)
- Custom enhancements available
- Multi-line excess coverage attaching more than one of the above-mentioned policies
- Immediate, automatic coverage for all new subsidiaries
- Broad definition of Wrongful Acts to include acts, errors and omissions, breach of duty, misstatements or misleading statements
- Broad definition of “insured” to include employees (excluding U.S.)
- Business can be placed on a facultative basis or through lineslips, binders and schemes (excluding U.S.)
- Pre-claim assistance and risk management (excluding U.S.)
- Advancement of defense costs for criminal proceedings until final adjudication of the claim
- Cover for cost of investigations and inquiries (excluding U.S.)
- Extended reporting period available
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Target Audiences
Individuals to multinational companies, including:
- Companies with worldwide exposures
- Private held, publicly traded and not-for-profit companies
- Financial institutions (insurance companies, banks, etc.)
- Low frequency/high severity business
- Commercial and financial institutions
- Corporatized government-linked companies
- Excess layer programs
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Find an ACE Contact
This general product description is informational only. It is neither
an offer to sell nor a solicitation to purchase any particular insurance
product. Coverages may not be available in all jurisdictions and may be
available only through appropriately licensed brokers. Refer to the Licensing
Information document for a chart of the jurisdictions in which each
ACE Group subsidiary is licensed.
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