Cyber
This insuring agreement covers the cost to notify individuals whose information may have been exposed.
Breach Response Costs
What is the coverage that describes when a suit is brought by customers, clients or vendors alleging harassment and discrimination.
Third Party Coverage
The loss where any employee of our insured is duped into transferring money by a bad actor purporting to be another employee, client or vendor.
Social Engineering
Fiduciary Liability Insurance covers lawsuits and regulatory investigations related to this aspect of our client's business.
Their employee benefit plans.
A common exclusion in all policies, but a particular issue for Cyber. We typically request a Cyberterrorism carveback/ exception.
The War Exclusion
The most common type of EPL policy that allows the insurer to choose counsel and control defense, with the Insureds consent.
Duty to Defend
The insuring agreement that covers individual directors and officers when their company is unable or unwilling to pay on their behalf when they get hit with a lawsuit.
Side A (non-indemnifiable loss)
The Insuring Agreement in the Crime policy that is also called a Fidelity Bond when purchased on its own.
Employee Dishonesty
The federal law that sets out rules and liability that creates much of the exposure for this policy.
Employee Retirement Income Security Act (ERISA)
The time "retention" that applies to Business Interruption Coverage.
Waiting Period
This clause allows the insurer to not cover a portion of settlement if it is above what they could have settled for but the Insured rejected the settlement offer.
Hammer Clause
Coverage for individuals if they receive a subpoena to produce documents or are requested to testify by a government or regulatory agency.
Pre-Claim Inquiry coverage
This type of Crime policy is best suited for banks or registered investment advisors who are handling money of others in their day to day business.
Financial Institutions Bond
These types of claims are the most common under Fiduciary Liability, as the insurers sometimes put higher retentions for them to balance their higher exposure.
Fee related claims
The federal law that sets out rules and liability for tracking individuals' preferences when viewing video content.
Video Privacy Protection Act (VPPA)
The most common allegation covered by an EPL policy.
Discrimination
For public companies, the D&O policy only covers this type of claim against the company itself.
Securities Claim
The insurer that can offer excess Social Engineering over sublimits as low as $250k when they are offered under a primary Crime or FI Bond policy.
Beazley (or new CRC facility)
The name of employee benefit plans that do not involve saving money for their employee's retirement, but are still covered under the policy for claims such as failure to provide benefits.
Health and welfare plans, or healthcare plans
This insuring agreement covers claims alleging defamation, libel, slander and types of infringement (not including patents).
Media Liability Insurance
The name of the federal government body that governs employment practices, and employees are required to file with them prior to bringing a lawsuit against their employer.
Equal Employment Opportunity Commission
In a private D&O policy, this exclusion is sometimes included but not always, and it is important to try to get this coverage, even if it is a sublimit, because the government has been active and vocal about bringing these types of lawsuits, making them more likely.
Antitrust exclusion
The type of Crime policy that we should request for our clients, where coverage applies when they are aware of the loss and not when it actually happened.
Loss Discovered
Rebecca Dauparas