Navigators Insurance Co. and Victor O. Schinnerer & Co., Inc. have launched a non-profit D&O program. Schinnerer will act as program administrator for Navigators.
The admitted filing of this countrywide program is currently under way and 44 states, the District of Columbia and Puerto Rico have approved to date. Available coverages in the new program include:
- Wage and hour defense
- Shared and separate limit options
- Circumstance reporting
- No D&O hammer clause
- Broad definition of subsidiaries
In addition to the many classes of non-profits Schinnerer currently underwrites, senior care facilities and social service organizations are just a few new classes that have been added to the eligible classes of business. A full suite of products including directors & officers liability, employment practices liability and fiduciary liability are available making the program one of the most comprehensive offerings for Non-Profit D&O marketplace.
Schinnerer will continue to service existing non-profit D&O policies under its prior program until their expiration date.
Source:
Topics Profit Loss
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