Have you ever worried about needing executive protection? As a business owner, key executive or board director, you could be a target. Lawsuits, cyber attacks, employment claims and even threat of ransom or kidnapping are all risks not covered by commercial general liability. And each could result in out-of-pocket expenses.
The good news is that CBIZ offers coverage for these exposures. We protect key individuals and organizations of all sizes and across all industries. Our risk consultants take time to analyze your needs and negotiate solutions to provide custom coverage for all your assets.
Executive Risk Solutions
If you collect customer information, protecting your organization from potential network and privacy exposures is essential! Cyber liability insurance safeguards organizations from data or security exposures. Policies can be developed to cover legal liability, defense costs and expense reimbursement, including notification costs, forensic accounting costs and the cost of credit monitoring.
Data and privacy exposure types include:
The risk experts at CBIZ Insurance Services, Inc. provide cyber liability coverage customized to meet your needs.
Directors & Officers Liability (D&O)
Directors & Officers Liability (D&O) insurance provides coverage for officers and board members for damages (settlements or awards) and defense costs that arise from lawsuits alleging various wrongful acts, including:
- actual or alleged management errors or omissions
- misrepresentation, misleading statement or misleading action
- neglect or breach of duties by the individual directors and officers
Our consultants have extensive underwriting and placement experience critical to securing the best D&O coverage based on your specific needs.
Employment Practices Liability (EPL)
Employment Practices Liability (EPL) insurance protects you by insuring the organization, directors, officers and employees for actual or alleged employment wrongful acts such as:
- discrimination (including race, age or gender)
- failure to hire or promote
- failure to enforce adequate workplace policies and procedures
- sexual harassment (and workplace harassment)
- wrongful termination (actual and constructive)
As a result of the new and increased exposures to loss from employment practices, every business should carry EPL insurance to protect them from this potentially catastrophic risk.
Errors & Omissions (E&O)/Professional Liability
We have extensive experience securing coverage for traditional and non-traditional errors & omissions exposures for companies of all types and sizes, including:
- Architects & Engineers
- Defense Contractors
- Financial Firms
- Technology/IT Companies
There are many other professions where errors and omissions from failing to provide a service or services can result in liability with potentially significant defense costs, settlements or court awards. Professional Liability and Errors & Omissions are used interchangeably to describe the coverage available to cover these risks. The insurance is generally written to cover costs and damages resulting from claims alleging the failure to provide the professional services where a fee has been charged for the service. We tailor each policy to meet the specific needs of each and every insured.
Employee Dishonesty &
Commercial Crime Insurance
In today’s technologically advanced environment, businesses are able to perform their operations more quickly, easily and effectively. But with highly developed technology comes complex exposure — exposure to a new set of risks that can threaten your company’s financial and non-financial assets.
Commercial Crime Insurance protects businesses from losses of money, securities and other property caused by both employee and non-employee dishonest acts. Dangers such as employee theft, fraud, computer fraud, burglary and robbery can be covered. Additionally, coverage for the ERISA mandated employee dishonesty bond could be added to your corporate crime policy. CBIZ risk professionals can help you respond to these ever-changing times by designing a crime program for your specific industry or business exposures.
Fiduciary Liability insurance is designed to protect both your company and its individual trustees/fiduciaries. It provides coverage for:
- Actual or alleged ERISA violations
- Administrative errors & omissions
- Breach of ERISA fiduciary duties
- Civil penalties for inadvertent violation of key ERISA sections
- COBRA or HIPAA obligations
- Negligent administration of benefit plans
- Terminated, sold or merged plans
Kidnap & Ransom Insurance
Kidnapping, ransom and extortion are concerns for business executives and travelers both within and outside the United States. The only way to protect an organization and its employees from the financial and physical threat is to purchase kidnap, ransom and extortion coverage. Typically, this coverage pays for ransom demands and other related expenses of a kidnapping or extortion on a worldwide basis. Common policy features include:
- Accidental death and dismemberment
- Bodily injury extortion
- Computer system extortion
- Expenses related to a covered event
- Legal obligations related to a covered event
- Ransom demand for a kidnapping
Media Liability insurance helps protect clients against claims resulting from gathering and communicating information and is critical to any media organization. There are a variety of claims that can be asserted against the media (e.g., copyright Infringement where a party used the work of another without its express written permission, authorization or consent, or unlicensed or unauthorized copying of copyrighted materials or proprietary software). The size of awards given by jury verdicts is constantly on the rise.
Mergers & Acquisitions (M&A),
International and Tax Insurance
CBIZ has the expertise and the necessary relationships with domestic providers and international intermediaries in the areas of mergers & acquisitions, international exposures and tax insurance to meet all your insurance and risk transfer needs. Our holistic and consultative approach enables us to specifically tailor comprehensive executive protection programs to satisfy your insurance needs and obligations.