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Executive Liability for NACO Members
Berkley Canada offers a comprehensive package of coverage for Directors & Officers for NACO members incorporating the latest enhancements to protect members as well as NACO sponsored companies.
For information please contact:
NACO Directors and Officers Liability Program Advantages
- Program premium discount
- Balance Sheet protection / Investee company management liability
- Term sheet (insurance) compliance
- Attract & protect investors
- Core Exposures addressed:
- Statutory liabilities (in bankruptcy/insolvency)
- Employment claims
- Private securities matters
Minimum Deductible
- $0 for Directors and Officers when they are not indemnified by the corporation
- $2,500 for private companies
- $25,000 for public companies
- $0 on not-for-profit companies
Policy Highlights
- Employment Practices Liability coverage included for individuals & corporations
- Coverage for Securities Claims Included
- Investigative costs for shareholder derivative actions are covered
- Additional limit of liability of $1,000,000 for Directors and Officers when they are not indemnified by the corporation
- Broad Definition of Claim including arbitration proceeding, investigative proceeding, and extradition coverage
- Broad definition of Insured Persons includes all employees, managers of LLC, and de facto directors
- Broad definition of Loss includes: pre- or post-judgment interest, punitive or exemplary damages or the multiple portion of any multiplied damage award
- Typically, in-fighting claims or Insured vs. Insured claims are excluded from coverage, but an exception will be made for Whistleblowers, past Directors and Officers who have not served for the past 3 years and bankruptcy trustees as well as all Defence Costs for in-fighting will be covered
- Policy is non-cancellable by Insurer, except for non-payment
- Coverage provided for wrongful acts taking place or claims made anywhere in the world
Berkley Canada Inc. underwrites on behalf of the Canadian branch of Berkley Insurance Company, a wholly-owned subsidiary of W.R. Berkley Corporation. As a member company of W.R. Berkley Corporation, we provide customers with access to the financial resources and stability of a global corporation, with the outstanding customer service of a local company.
W. R. Berkley Corporation has worldwide assets of $17.4 Billion USD, a Net Written Premium of $3.7 Billion USD, Stockholders' Equity of $3.6 Billion USD, and Annualized Revenue of $4.4 Billion USD, as well as 40+ years of Casualty market experience. S&P A+Rating (Strong) and A.M. Best A+Rating (Superior).
www.berkleycanada.com
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