Professional Lines

Management and Corporate Liability Insurance

Our Management and Corporate Liability Insurance policy provides broad, primary coverage for publicly traded entities of all sizes in all industry sectors.

Policy Features

• Admitted in most states
• Worldwide coverage, where permissible by law
• Definitions of Claim and Loss are straightforward and broad
• Insureds may settle a Claim without the Insurer's prior consent if the total Loss does not exceed the applicable Retention
• Policy is convertible to Run-Off Coverage from inception
• Employed Lawyers Coverage available by endorsement

Streamlined policy form provides Directors and Officers with additional protections against financial loss:

• Coverage for fees and expenses for an Insured Individual to respond to informal regulatory inquiries regarding the Insured Organization's business
• Expanded definition of Loss includes:
  • Any civil fine or penalty imposed on an Insured as a result of a non-willful violation of law
  • Taxes imposed upon on an Insured Individual due to the Insured Organization's Financial Impairment
  • Costs incurred by an Insured Individual to obtain or secure clawback funds, which are funds that must be returned to the Insured Organization under SOX or Dodd-Frank
• Advancement of Defense Costs and Insured Inquiry Costs if the Insured Organization does not advance such costs for any reason
• Coverage for Non-Indemnifiable Loss may not be rescinded by the Insurer
• In the case of a total limit loss, priority of payment is to the Insured Individual
• The Wrongful Acts of an Insured Individual will not be imputed to any other Insured Individual
• No subrogation against an Insured Individual in the absence of a final adjudication of fraud
• Insured Individuals may purchase an ERP if the Policyholder does not do so upon cancellation or nonrenewal
• Policy is primary to any personal umbrella coverage purchased by an Insured Individual

Documents for download:

• AXIS Management & Corporate Liabilty Insurance Policy
• AXIS Management & Corporate Liabilty Insurance Policy Application

Highlights

• Limits of liability up to $25 million
• Highly experienced underwriting and claims teams
• Broad underwriting appetite
• Strong, long-term broker and client relationships
• Coverage backed by the exceptional financial strength and solid claims-paying ability of the AXIS insurance companies, rated "A+" (Strong) by Standard & Poor's and "A" (Excellent) XV by A.M. Best

For additional information:

• AXIS Financial Insurance Solutions (Commercial Accounts) - Contact Us
• AXIS Financial Institutions - Contact Us

Other Professional Lines coverages available from AXIS

• Employment Practices Liability
• Fiduciary Liability
• Crime & Fidelity
• Miscelleanous Professional Liability
• Network Security & Privacy
• Cyber/Technology Liability
• Media Liability
• Bankers Professional Liability
• Investment Management Insurance
• Alternative Investment Management Liability
• Financial Institutions Errors & Omissions Liability
• Insurance Company Errors & Omissions Liability