Directors and Officers Liability
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Mercator Risk Services provides D&O coverage to a wide range of organizations, including all types of privately held corporations. Mercator uses a range of different markets in order to find the best solution for your client’s organization - it does not have to be a difficult process.
Mercator’s Mainstream Solution
For standard private company accounts we have a facility that provides up to $5 million in limits and the following benefits:
- Broad Coverage
- Options to Include EPL, Fiduciary and Other Coverages
- Competitive Pricing
- Fast Turnaround
Technology, Media and Professional Services coverages can be added in as well on select accounts. See our Coverage page for more details on coverage provided. We can even set up a on-line facility in your office for quoting these accounts to speed service to you. Call Victoria for more information. A standard private company for our Mainstream Solution would be the following:
- Less than 500 employees
- Less than $250 million in assets
- No claims
- No intention to file for a public offering in the next 12 months
- Not a financial service
Other Solutions
Mercator Risk Services can handle a wide range of types of private company accounts, including hard to place and distressed accounts. Some examples:
- Adverse Claims Experience
- Bankruptcy or Financial Issues
- Financial Services
Applications
As with all specialty lines coverages, applications are important for underwriters to correctly underwrite and price D&O coverage. In addition, applications are representations (and in some cases warranties) by the applicant. Therefore, care should be taken to ensure that the applicant has provided accurate information, has checked the information provided in detail, and has signed and dated the application.
The Process
Each insurer will require their own application be completed, signed and dated when coverage is bound. In order to eliminate extra work for the applicant, underwriters will typically provide proposals for coverage from other applications, so one application can be used to obtain proposals for coverage from multiple insurers. However, it makes sense to use an application that is widely accepted and from the insurer that the applicant will likely end up binding. We have chosen one application that balances ease of use for you and the applicant with the best overall results (It can be found here).
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