Welcome!

Welcome to our newest blog on Executive Liability coverages and issues. I say our newest blog because you can also find us at our NY Home and Auto information blog here, and of course, some of our local readers have been enjoying are Babylon Village blog for several years at www.aroundbabylon.com.

At this blog, we will discuss the various coverages that come under the heading of Executive Liability. Please note that this blog is meant for insurance consumers, not agents or companies. I will be trying to put things in terms that you do not have to be in the insurance industry to understand. Of course, sometimes I won't be able to avoid 'jargon' simply because these coverages, like all insurance policies, are filled with legalese and if I changed it, even in the name of making it more understandable, I could be in trouble.

One other thing to mention is that we are only licensed in New York state. So while a lot of what I write will apply all over, some things may be more or less limited to what is written here in NY, and if you read something here that seems to contradict something you have heard or read in a different state, then you have to ask someone who knows the rules of that state.

Executive Liability is a relatively new term being used to describe a group of coverages that protect companies against some of the newer types of lawsuits. Another term that is sometimes used for the same coverages is Management Liability. These coverages are Employment Practices Liability insurance, Directors and Officers Insurance, Fiduciary Liability coverage, Miscellaneous Professional Liability insurance, some Fidelity and Crime insurance policies, and perhaps the newest area, Cyber Liability exposures.

Most if not all of these are available to cover both for-profit and non-profit or not-for-profit entities, though of course some are more common than others for the non-profits. For example, Directors and Officers insurance is very important to both sectors, where the miscellaneous professional coverages might only be necessary if the non-profit performed some sort of professional services, such as providing skilled nursing care or legal advice to those who can't afford it. My Rotary Club, for example, needs Directors and Officers insurance but not Professional Liability, nor do we have a need for Employment Practices insurance.

As time goes by, we will be covering all these areas in some depth. In the meantime if you have questions about this coverage or would like a quote, please visit our site at www.ExecutiveLiabilityNY.com. For other lines of insurance, please visit us at www.NYInsuranceWithService.com or our main corporate site at www.NortonSiegel.com.