Zurich Targets Emerging Public Companies With Management Liability

Zurich's Specialties' Management Solutions Group has created a new practice aimed at offering management liability insurance to public emerging growth companies with revenues under $500 million. The new practice, called Public Markets Group, will offer directors and officers (D&O), employment practices liability, fiduciary and crime insurance coverages.

For this market segment, Zurich will offer the public markets endorsement for use in conjunction with the D&O select primary form, according to Beth Goldberg, head of the Public Markets Group for Zurich North America Commercial.

Policy enhancements include:

• Definition of executive officer limited to a company's chief executive officer, chief financial officer and in-house general counsel
• Employed lawyers coverage extension
• Fully non-rescindable policy
• Increased automatic coverage (up to 35 percent) for newly acquired organizations
• Notice of claim limited to general counsel, risk manager or their functional equivalent
• Alternate dispute resolution requirement deleted
• Disclosure management coverage sublimit

The Public Markets Group will have offices in New York (serving the East Coast), Chicago (serving the Midwest) and San Francisco (serving the West Coast).

Source: Zurich