Program Features

Standard coverage

Basis of Coverage Full Tort coverage
Subpoena Coverage Up to 10% of the limit
Expense Reimbursement Subject to a limit of $750 each day and an aggregate of $25,000
Disciplinary Proceedings $50,000
Supplemental defense Expense Up to $100,000 or 10% of the policy limit
Not For Profit Directorships Coverage $25,000 per claim/per policy period
Risk management Coverage (attorney’s fees) $5,000
Cancellation terms Policy cannot be cancelled by insurer except for nonpayment of premium.
Loss only deductible For the first $10,000 of any claim
Forced Settlement (Hammer clause) No provision in policy
Coverage Territory True Worldwide Coverage
Libel, Slander & Defamation Not excluded
Fraudulent Instructions Coverage Indemnity up to $150,000 for the transfer of client funds as a direct result of fraudulent instructions.
Fiduciary Liability Covers liability arising from fiduciary acts of the insured.
Trustee Liability Covers liability arising from trustee services of the insured.
Electronic Media Liability Covers liability arising from loss due to Electronic Media including Social Media, Websites and misdirected email.

Optional Coverages

Client ID Theft Covers liability arising from loss due to Client Identity Theft.
Management Liability Covers Directors’ or Officers’ liability.
Enhanced Cyber Coverage Free coverage of $50,000 and the option to increase this to $1,000,000 for breach and monitoring costs, damage to network assets and cyber extortion.
Electronic Media Coverage Covers liability arising from loss due to Electronic Media or Client Identity Theft including Social Media, Websites and misdirected email.
Product Sales Covers liability arising from sales of commissioned investment products.
Life Insurance Sales Covers liability arising from sales of life insurance.

Go here for a copy of the master policy (you will need your certificate number):