Directors and Officers (D&O)
Directors and Officers (D&O) insurance protects the personal assets of the Directors and Officers as they serve in their official capacity by funding the cost of legal defense and settlements on behalf of the directors and officers. Many outside Directors will not serve on a board unless adequate D&O protection is in place.
Errors & Omissions (E&O)
E&O insurance protects the entity in the event it receives a claim related to the professional services performed by the company.
A common misconception is a company’s general liability policy provides coverage for errors, contract performance disputes or any other professional liability issues –it DOES NOT. Consortio can advise on the best structure, coverage and pricing options available.
Employment Practices Liability Insurance (EPLI)
EPLI provides protection in the event of a claim stating discrimination, wrongful termination, or sexual harassment. In today’s litigious environment, lawsuits occur all too frequently.
Fiduciary Insurance protects the personal assets of a fiduciary/trustee due to allegations of breach of fiduciary duties. In addition, fiduciary insurance provides coverage for companies in the event of a claim with respect to errors and omissions in the administration of employee benefit programs as imposed by the Employee Retirement Income Security Act (ERISA).
Who is considered a fiduciary?
If your company has a 401(k) plan, then you have plan trustees who are also fiduciaries.
Directors and Officers also may make decisions that would qualify them as fiduciaries as well.
Any person who is a fiduciary has exposure to their personal assets in the event of a claim by a plan participant.
Cyber Liability Coverage
Cyber liability coverage is for claims and defense costs for the insured’s liability of handling of personal identifiable information (PII) and personal health information (PHI) or confidential corporate Information due to:
Loss, theft or unauthorized disclosure of PII and/or PHI maintained by the insured or contracted by the insured (i.e. Data Host or “Cloud”)
Negligent network security resulting from events, such as transmission of malicious software or a denial of service attack
Failure to timely disclose a breach and failure to comply with privacy policies
There are a number of services and business practices Consortio employs in the course of developing business partnerships, such as the following:
-Helping clients pre-qualify subcontractors and vendors
-Problem solving and strategic thinking
-Acting as a business advisor and consultant
Bonds that Consortio can assist you with include the following: