Management Liability Policies Get Stronger

Summary

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This article is based on the 2007 review of the growing market for private company management liability insurance. This product combines several lines of business coverage into a single policy. Most carriers include the following core liability coverages in their products: directors and officers liability insurance, employment practices liability insurance, third-party discrimination and harassment insurance and fiduciary liability insurance. While size is becoming less of a barrier to obtaining management liability insurance, the nature of a prospect's business still is. The private company management liability market is a big one, served by a combination of large participants such as AIG and Chubb, and a number of smaller carriers too numerous to mention. Some of these smaller carriers clearly have their sights set on growth and have made significant product improvements. Information last year indicated that these smaller carriers were adding premium at a rapid clip, but that pace has now slowed.

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Extract

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Management Liability Policies Get Stronger

THIS ARTICLE IS based on our 2007 review of the growing market for private company management liability insurance. This product combines several lines of business coverage into a single policy.

In our 2007 survey, we obtained information from 17 insurers and MGAs, which we believe represent the core of this market, although several other carriers offer similar products. The participants were ACE, American International Group, Axis, Chubb, Cincinnati Insurance Co., CNA, ?-Risk Services (for ACE), Fireman's Fund, Great American, Hartford, HCC Global (Houston Casualty), Monitor Liability Managers (for Admiral and Carolina Casualty), NAS, Philadelphia Insurance Co., RLI, Travelers and Zurich.

We have tested th...

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