D&O
This is the insuring agreement that the individual D's and O's care the most about.
What is Side A?
According to the Equal Employment Opportunity Commission (EEOC), this is the most common allegation in an EPL lawsuit.
What is Discrimination?
The type of loss that shook up the Cyber market for the past two years.
What is Ransomware?
The most common type of Fiduciary Litigation, whose earliest claims were focused on large universities.
What is Excess Fee Litigation?
A loss where an employee is duped into transferring money on false pretenses.
(Please provide all the names you can think of)
What is Social Engineering, Fraudulent Instruction, Corporate Deception?
The portion of loss that makes up the largest percentage of payment.
What is defense costs?
The term that describes customers, clients or vendors who may bring covered lawsuits under the EPL policy, and the covered allegations.
What is Third party, harassment and discrimination?
While it can be deemed a self-insured retention, this must pass before Business Interruption coverage would respond.
What is a Waiting Period?
The department of the US Government that could bring an investigation that would likely be covered under a Fiduciary policy.
What is the Department of Labor?
This is the second most common type of loss on a crime policy.
What is Employee Theft?
A sublimit that provides coverage for investigations involving shareholder derivative claims.
What is Derivative Investigation Coverage?
The clause that allows the carrier to cap how much they payout when a settlement offer is declined by the Insured.
What is a Hammer Clause?
This insuring agreement covers 3rd party claims for defamation, libel, slander, or emotional distress.
What is Media Liability?
The acronym for the federal healthcare privacy laws, the penalties of which are typically sublimited on a Fiduciary policy.
What is HIPAA (Health Insurance Portability and Accountability Act)?
The type of policy that responds based on when the loss happened, not when it was discovered.
What is Loss Sustained?
The 6 common exclusions on a public D&O policy.
What is prior notice, pending or prior proceedings, ERISA, Entity vs. Insured, Bodily Injury / Property Damage, and Conduct exclusions?
This is the number one reason why Claims are denied on an EPL policy.
What is Late Notice?
This type of event is caused by an unintentional or unplanned outage, and not a security breach.
What is System Failure?
What is the name of the Act that governs employee benefit plans?
What is the Employee Retirement Income Act (ERISA)?
The name of the coverage that is required for employee benefit plans.
What is ERISA Bond?
One Act applies to newly listed securities, while the other applies to actively traded securities. Please specify which is which.
What is the 33 act and 34 act?
The state that allows a private right of action for wrongful biometric data collection.
What is Illinois?
This type of 1st party loss is the most common loss under a Cyber policy
What is Social Engineering / Fraudulent Instruction / Business Email Compromise?
What is Form 5500?
The best practice to prevent social engineering loss.
What is callback verification?