Executive Liability

Professional Services Plans

Executive Liability, the newest program within Protector Plans, has launched a Primary and Excess Management and Professional Liability product. This is a new program supported by a team of experienced underwriters, product specialists, and claims professionals; with the backing of an A (XV) rated carrier. Protector Plans Executive Liability (PPEL) will target private and not-for-profit companies through a limited and preferred distribution model in the middle-market space across a broad spectrum of industry classes. 

Program Highlights

Coverages Available

  • Directors and Officers Liabiliy
  • Employment Practices Liability
  • Fiduciary Liability
  • Employed Lawyers
  • Crime
  • Miscellaneous Professional Liability

Limits Available

  • Up to $5M per coverage section

In-House Claims Handling

  •  Claims handled in-house through Protect Professionals Claims Management

Primary Policy Features

All Coverage Parts

  • Duty to Defend
  • No “hammer clause”
  • Non-rescindable coverage
  • Coverage enhancements designed for Professional Firms and Healthcare are available

D&O Liability Coverage Highlights

  • Expanded definition of Executive includes De Facto Director, Board Observer, member of Board of Managers or Advisory Board, and inhouse general counsel
  • Additional limit available for Executives up to $1,000,000
  • Sublimits available for Derivative Demand Investigations, Books and Records Requests, Crisis Management Reimbursement Antitrust Claims, Asset Protection Costs, Executive Public Relation Costs; PreClaim and Pre-Tender Expenses, and UK Corporate Manslaughter Act Costs.

Employment Practices Liability Coverage

  • Coverage includes Independent Contractors
  • Sublimits available for Crisis Management Reimbursement, Illegal Hiring or Harboring Wrongful Acts, Workplace Violence, and Wage & Hour Defense.

Fiduciary Liability Coverage Highlights

  • Wrongful Act includes acting in a settlor’s capacity with respect to any Plan
  • Sublimit available for Voluntary Settlement Program Costs and Crisis Management Reimbursement, and Certain Foreign Penalties
  • Coverage for certain fines and penalties including those imposed by ERISA, HIPAA, Pension Protection Act, Affordable Care Act and the Internal Revenue Code

Crime Coverage Highlights

  • Loss discovered coverage
  • Coverage for theft caused by broad class of employees and independent contractors
  • Coverage available for social engineering fraud • No police notification requirement
  • Notification required if Insured or Executives reasonably believes loss or damage of Money, Property or Securities will exceed 50% of Deductible
  • Optional coverage available for Personal Account Protection for Forgery or Alteration, Identity Fraud, and Ownership Interest Carveback

Employed Lawyers Coverage Highlights:

  • Sub-limits available for General Counsel Replacement Reimbursement, Subpoena Defense Expenses, and Defense Expenses for responding to a written request to toll or waive a Statute of Limitations
  • Wrongful Act includes malicious prosecution and abuse of process

Miscellaneous Professional Liability Coverage Highlights

  • Sublimit available for Disciplinary Proceeding Expenses • Coverage for Personal Injury included
  • Optional coverages include a sublimit for Limited Pollution (compensatory damages only), Loss of Earnings and Attendance Expense Reimbursement, Media Liability sublimit, Pre-claim Assistance, Subpoena Assistance, Contingent BI/PD, Tenant Discrimination and Crisis Management Reimbursement
  • Optional endorsement to include Independent Contractors in definition of employee
  • Non-Monetary Damages Defense Expense included

Meet The Executive Liability Team

Greg Boornazian
Executive Underwriter
[email protected]

Greg has over 11 years of experience in the D&O industry. His previous experience includes managing both public and private D&O books of business. Leadership roles at both MGU’s along with established national carriers led to his new role within       Protector Plans.

Ben Young
Executive Underwriter
[email protected]

Ben joined the executive liability team as a management and professional liability specialist with over 20 years’ experience including underwriting and brokerage roles. Ben has earned multiple designations, including MBA, CPCU, and RPLU.

Craig Grant
Chief Underwriting Officer
[email protected]

Craig has over 25 years of industry experience. He has previously held leadership roles in both start-ups and well-established portfolios. Over his career, Craig has led financial lines segments, accident & health, and workers’ compensation as a CUO and Product Manager.