You need liability protection for more than premises and operations risks. Be sure you are also protected for "management risk." When you make management decisions, the liability exposures may be even greater than a slip and fall or vehicle accident. Management risk is the key reason you need to consider either purchasing or updating your directors and officers (D&O), employment practices liability (EPL), and fiduciary liability coverages.
While all three are typically available and often purchased as separate policies, you should also discuss with your agent or broker the possible advantages of a management liability package policy. Such a comprehensive package can offer the convenience of combining D&O, EPL and fiduciary into a single policy, but also may better coordinate the three to minimize otherwise overlapping or counterproductive coverages, exclusions and limitations.
Higher quality management liability packages may also include, at an attractive cost, valuable additional coverage often otherwise overlooked or requiring separate purchases, such as crisis response, employee theft, identity recovery, and security breach insurance.
Contact your insurance representative today and ask about the availability and advantages of management liability Insurance, either stand-alone or as a package, today.
©2013 Selective Ins. Group, Inc. (Branchville, NJ). "Selective" insurers include Selective Ins. Co. of America, Selective Ins. Co. of New England, Selective Ins. Co. of N.Y., Selective Ins. Co. of South Carolina, Selective Ins. Co. of the Southeast, Selective Way Ins. Co., Selective Cas. Ins. Co, Selective Fire and Cas. Ins. Co and Selective Auto Ins. Co. of N.J. Insurers and products available vary by jurisdiction.