We are committed to providing you with risk management and insurance brokerage services delivered by professionals who understand all types of individual professions and organizations and what they need to be well protected. We provide our clients with a single source for all executive risk management insurance products and services for a very wide range of industries and organizations.
Professional/Miscellaneous Errors & Omissions
Professional Liability (E&O) protects professionals and organizations against liability for an error, omission, or negligence in the performance of professional services. The coverage also provides for defense costs and legal liability for wrongful acts made by an organization in the course of providing professional services. If you or your organization has the potential to cause economic harm to your clients or customers as a result of an error, omission, or negligence in the performance of your professional services, then you may need to consider Errors and Omissions insurance.
Professionals We Serve Include
- Attorneys and accountants
- Architects and engineers
- Insurance agents and brokers
- Asset managers, banking and investment banking
- Private equity and venture capital
- Health care and technology firms
- Real estate and property managers
- Media, communications, and entertainment
- Physicians, dentists, and related health professionals
- Other miscellaneous professions
Other forms of specialized E&O policies that we have include Media Liability, Technology E&O, Cyber Liability, and Miscellaneous Professional Liability which covers “non-standard” professional services that could result in harm to a third party.
Directors & Officers Liability
D&O provides coverage for defense costs and damages (awards and settlements) arising out of wrongful act allegations and lawsuits brought against an organization's board of directors and officers. D&O insurance protects individual directors and officers, as well as the company balance sheet from the risk associated with negligent wrongful acts committed by directors and officers. In the increasingly regulated and litigious environment, directors and officers are more exposed than ever before for allegations that they have breached or neglected their duties. The directors and officers of public, private and non-profit entities all can have different exposures that need to be evaluated on a case-by-case basis to ensure that the proper coverage is secured. Claims can come from multiple sources including shareholders, vendors, customers, regulators and employees. If your company is faced with a lawsuit, defending it could be financially debilitating.
Employment Practices Liability
Employment Practices Liability (EPLI) provides coverage for defense costs and damages related to various employment-related claims including allegations of wrongful termination, discrimination, workplace harassment and retaliation deriving from the employer-employee relationship. EPLI can also provide coverage in the event that a third party claims that they have been harassed or discriminated against by an employee. We evaluate our clients on an individual basis to determine which specific employment related exposures they might face, and what combination of insurance and risk management techniques would work best to manage the risk.
If your company sponsors a retirement or other benefit plans for your employees and you are involved in any way with the management of that plan, you are likely considered a fiduciary. Fiduciaries can be held personally liable for what happens to the plan under ERISA law and cannot wholly transfer their liability to another party, such as a professional investment firm or third-party plan administrator. The fiduciary liability insurance policy provides coverage for claims alleging breach of fiduciary duty with regard to retirement and benefit plans.
A fiduciary can be held personally liable and their assets can be at risk if they do not fulfill their obligations to:
- Act in the best interests of the plan participants
- Act with the care, skill and diligence that a prudent person would use in a similar situation
- Diversify the plan
- Follow the plan document
- Adhere to other duties required of fiduciaries
Network Security & Privacy (Cyber) Liability
In today's data driven world, companies are growing increasingly more exposed to threats of cyber attacks and data breaches. A single hacker, virus, lost or stolen laptop, rogue employee, or lost paper document can create debilitating financial and reputational consequences for a business. There are substantial financial costs involved in finding and remedying a breach, including the cost of notifying affected individuals, possible fines and legal expenses.
All carriers provide different coverage options and different names for individual coverage parts, but a cyber liability policy generally can include coverage for exposures including third party network security and privacy liability, communications and media liability, regulatory defense expenses including fines and penalties, breach response including customer notification and crisis management, data recovery and business income loss, cyber extortion and more. Let us help you determine the appropriate cyber risk management program for your organization.
Crime insurance addresses the most common fidelity threats, including when an employee steals money, securities, or property from you or a client. With crime protection, you can obtain a wide range of coverage to help protect your business against financial loss due to certain crimes. Crime coverage can also provide coverage from third party exposures including computer fraud, wire transfer fraud, and robbery or burglary that harms you financially. Companies can usually include ERISA Fidelity coverage on a crime policy instead of having a stand-alone ERISA bond to ensure that they are compliant with ERISA law. Specialized crime coverage exists for some classes of business, including Financial Institution Bonds for banks and related financial institutions.
Kidnap and Ransom (K&R) insurance can provide protection for individuals, families, and employees of corporate organizations wherever they are in the world. The coverage can protect against different exposures to include kidnap, extortion, wrongful detention, hijacking, loss of earnings, and much more.
Additional Risk Solutions
We provide other specialized forms of insurance and risk management including Intellectual Property insurance, Representation & Warranties, Merger & Acquisition Risk Assessment, and more. Our Executive Risk professionals work diligently with clients to completely understand their individual exposures in order to be confident that they have the best coverage available. We can provide a comprehensive analysis of your current risk management program, and work with our chosen markets to provide options for you with the broadest terms and conditions possible so that in the event of a claim, you will feel confident that you are protected.
For more information on these services, contact Regions Insurance