Hiscox debuted new coverages in the U.S. designed to help companies manage liability and crime—a launch the international specialist insurer said is part of its executive liability insurance policy for U.S. businesses.
Dubbed the Hiscox C-Suite, the offering focuses on management liability and crime coverage, and policies are available for any size company.
The management liability policy includes directors and officers coverage for not-for-profit and private organizations, as well as employment practices liability, fiduciary and employed lawyers coverages. Insureds have a 180-day extended reporting period when a policy is terminated, built-in coverage for pre-claim inquiries for insured persons (such as informal investigations brought by a governmental entity) and coverage for claims alleging anti-trust violations for select industries.
Crime coverage, open to most industries including nonprofit organizations and municipalities, applies to losses involving virtual currencies and offers protection against tech fraud, extortion and more traditional types of crime and fraud, such as embezzlement. Features include but are not limited to: claims of tech fraud, coverage for employee theft of an executive’s property, coverage for theft by an employee of an insured’s vendor and coverage for employees, even when the insured is aware of their prior theft or history of dishonesty.
Source: Hiscox