Validus: Admitted Management Liability Form
The Commercial Directors & Officers insurance team of Validus Specialty Underwriting Services, Inc. announced a partnership with Business Risk Partners [BRP], a leading producer, underwriter and administrator in the Professional & Management Liability space.
Under the partnership, BRP will offer a new and expanded admitted management liability package policy form covering D&O, EPL, fiduciary, crime, and cyber. The facility is available to U.S. agents and brokers.
“An entrepreneurial mindset, great talent, proven claims handling ability, and a big appetite to expand into new areas are what attracted us to Validus. We’re excited to be working together to offer agents and brokers and the customers they serve more comprehensive coverage with the addition of cyber and crime plus a lot more flexibility,” said Lisa Doherty, BRP’s CEO and president.
Cathy Cossu, Validus Specialty’s Senior Vice President of Professional Lines added, “BRP is well known in the middle market management liability space for their strong underwriting acumen and outstanding customer service. Validus and BRP both share a client-centric mindset that has served as a cornerstone in establishing a robust collaboration from the outset.”
Cover and Limits
Offering $5 million in limits on a shared or separate limit basis, the new coverage is available combined and standalone. Excess coverage is also available.
Significant enhancements to the form include:
- Option to select indemnity or duty to defend.
- AlphaPack commercial coverage modular package form with separate coverage sections for D&O, EPL, fiduciary, crime, and cyber.
- Additional defense limit of $1 million included for all policyholders.
- Coverage extensions available for wage & hour, immigration defense, privacy violations, workplace violence, training expenses, crisis management expenses, employed lawyers and more.
“Extending this offering is a boon to agents, brokers, and clients who are looking for the strength of ‘A’ rated paper from Validus and the responsive services of BRP,” said Julia Keenan, Vice President of Commercial D&O at Validus Specialty.
