Dynamic D&O: check out our recent risks
CFC’s management liability team cover a range of traditional and emerging risks faced at board-level, from directors and officers cover and employment practices liability, to kidnap and ransom and cyber liability, with a lot more in between. Let’s take a look at some of their recent risks.
Small tech firm
A small US tech company with subsidiaries in New Zealand and Ireland were struggling to find coverage in the domestic market due to the foreign exposure. CFC were able to provide D&O and EPL coverage that adequately covered the parent company and all subsidiaries.
Start-up telemedicine company
A start-up telemedicine company were struggling to obtain management liability insurance due to the combined technology and bodily injury exposures. The start-up was raising a $5m Series A funding round and required D&O insurance. CFC were able to provide a solution that satisfied both the client and the new investors requirements.
A non-profit organisation collects and recycles ocean waste into jewellery. The organisations collect from the oceans off America and the Caribbean and required D&O, EPL and kidnap and ransom insurance to cover employees and volunteers. CFC was able to provide these coverages on one policy.
Global lighting manufacturer
A specialist global lighting manufacturer wanted social engineering coverage, should an attack occur whereby the redirection of company goods is delivered to an unintended third-party address. CFC’s social engineering coverage provides coverage for both money and property so we could provide a solution for the client.
Information management company
An information management company set up an Employee Stock Ownership Plan (ESOP). The company’s sole shareholder sold all outstanding stock to the ESOP in exchange for the issuance of notes payable to shareholders. As the underlying debt is repaid, the shares in the ESOP are released as collateral and allocated to the employees of the company. CFC were able to provide the coverage for the company as it transitioned from a private company structure to the ESOP structure.
Health drink manufacturer
A start-up manufacturer of a pre-surgical drink was looking for D&O cover. The drink provides patients with nutrients to ensure minimal stress during surgery and aids the recovery process post-surgery. CFC were able to provide the D&O cover requested for this start-up life science company.
Limit: $5,000,000 part of $200,000,000 excess of $400,000,000
A large, well established public telecommunications company offering home phone, wireless communication, internet and entertainment products. The company have exposures from their shareholder base in the form of class actions, regulatory actions from various commissioners and associations, as well as exposure related to the personal data that they hold, and how it is protected. CFC were able to provide Side A DIC capacity which provides cover solely for the directors and officers on a non-indemnifiable basis.