What is Executive Risk?

To attract the best and brightest talent to your business, we can help you with executive risk coverage such as:

Although you may have purchased one or more of these types of coverage, you need to ask, "How will these policies respond in the event of a loss?" Is your worst nightmare actually excluded from coverage? Lawsuits have resulted from the current economic crisis. Trending factors available from the February 9, 2009 issue of Business Insurance show:

“Overall in 2008, the average securities class action settlement was $7.5 million, down from $9.4 million in 2007, according to National Economic Research Associates Inc.'s report on 2008 trends. But the proportion of those settlements exceeding $100 million has gone up from 6% in 2005 to 8% in 2008.”

Businesses are not only struggling with a record number of class action lawsuits, they also are struggling to stay afloat. Unfortunately, Insurers are examining new and creative ways to modify policies to eliminate some coverages following the Bernie Madoff scandal.

Have the terms and conditions of your policies changed?