Chubb markets new D&O coverage. (Marketplace: Property/Casualty).A new package of insurance coverages from the Chubb Group of Insurance Cos. offers a single approach to help safeguard corporate directors and senior managers from a variety of exposures. Executive Protection Portfolio, a package of six comprehensive insurance coverages, is designed for publicly owned Publicly owned can refer to:
The six coverage sections include: * Directors and Officers Liability: Recent corporate governance Corporate Governance The relationship between all the stakeholders in a company. This includes the shareholders, directors, and management of a company, as defined by the corporate charter, bylaws, formal policy, and rule of law. scandals and heightened public scrutiny of management have increased a public company's need for D&O insurance. * Employment Practices Liability: The U.S. Equal Employment Opportunity Commission in 2001 handled more than 80,000 claims involving some of the largest settlements ever. Policyholders have access to Chubb's loss prevention program, which includes access to outside employment consulting services, model employment policies and other services. * Fiduciary Liability: Anyone who manages investment decisions associated with corporate benefit plans can be sued for mismanagement mis·man·age tr.v. mis·man·aged, mis·man·ag·ing, mis·man·ag·es To manage badly or carelessly. mis·man  age·ment n. of the plans. * Outside Directorship Liability: Virtually all corporations face this exposure when their employees serve on the boards of outside organizations. * Crime: Employee fraud, embezzlement embezzlement, wrongful use, for one's own selfish ends, of the property of another when that property has been legally entrusted to one. Such an act was not larceny at common law because larceny was committed only when property was acquired by a "felonious taking," i. and other workplace crimes cost U.S. businesses an estimated $4,500 per employee annually, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the Association of Certified Fraud Examiners Established in 1988 the Association of Certified Fraud Examiners is the professional organization that governs professional fraud examiners. Its activities include producing fraud information, tools and training. . * Kidnap/Ransom and Extortion: Companies with employees traveling internationally face an ever-increasing risk of kidnapping. Executive Protection Portfolio's kidnap/ransom and extortion insurance reimburses for certain ransom and extortion payments and a wide army of related expenses, and it makes available the services of Ackerman Group, a hostage negotiation and international security firm. |
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