INSURANCE POLICIES AVAILABLE FOR OUR MEMBERS
Directors and Officers
Following are three summaries of D&O insurance and can be used separately, any of the three, or a combination of the three to outline the coverage for your members.
The policy is intended to protect directors and officers against allegations of wrongful conduct when they are acting as company executives. Typically, most policies cover alleged wrongful acts that have taken place prior to or during the policy period. However, some policies are negotiated to expressly exclude “past acts” coverage, so the actual language of the policy must be closely reviewed. If a potential insured is aware of an impending claim, it may be too late to go out and get insurance to cover it, unless the potential claim is disclosed and the carrier expressly agrees to take it on. First time D&O purchasers must reveal any information they have regarding known claims or related circumstances in the application process itself. Matters disclosed in the application process will usually be excluded from coverage.
A type of liability insurance covering directors and officers for claims made against them while serving on a board of directors and/or as an officer. D&O liability insurance can be written to cover the directors and officers of for-profit businesses, privately held firms, not-for-profit organizations, and educational institutions. In effect, the policies function as “management errors and omissions liability insurance,” covering claims resulting from managerial decisions that have adverse financial consequences The policies are written on a claims-made basis, and cover monetary damages but exclude bodily injury and property damage.
D&O insurance policies offer liability cover for company managers to protect them from claims which may arise from the decisions and actions taken within the scope of their regular duties. Such policies cover the personal liability of company directors and officers as individuals (Side A cover), but also the reimbursement of the insured company in case it has paid the claim of a third party on behalf of its managers in order to protect them (Side B or Company Reimbursement Cover).
Kevin Johnson, Vice President
Lockton Affinity, LLC
7300 College Blvd., Ste 500
Overland Park, KS 66210
For our “Affiliate (Group) Discount” you must mention that you are a member of the Association of Corporate Executive Coaches (ACEC.) and provide code.
Lockton® Companies was founded in 1966, and is the world’s largest privately owned, independent insurance brokerage firm. Lockton Affinity, LLC, a subsidiary of Lockton Companies, specializes in insurance for professionals, associations and groups.
They have partnered with a group of wellness, medical and health care organizations to create tailor-made Professional & Medical Liability Insurance for their members and health care professionals. All of their insurance is rated “A” (Excellent) by A.M. Best.
- Get a free, no-obligation premium quote with multiple coverage options to choose from.
- Select the quote of your choice, then answer a few additional questions to complete the application.
- Once your online application is accepted, they provide confirmation of coverage terms that you can accept.
- Complete your purchase online with a credit card or e-check, and you’re covered. It’s that easy.
It’s affordable. Take advantage of group purchasing power and get the best, most competitive rates on the market.
To apply enter this portal:
Disclaimer: It is recommended that you perform your own due diligence/ vetting/ seek your own professional advice before signing any agreement and/or participating in any plan. The Association of Corporate Executive Coaches (ACEC) and/or any of its representatives and/or employees assume no responsibilities for any outcome resulting from using any insurance carrier/agent mentioned above or any of its relationships/companies.