Primary Scope of Coverage

  • Menu-driven single policy form with coverage parts for D&O, Investment Adviser E&O, Investment Company (Mutual Fund) E&O, and Private Fund E&O
  • Derivative Investigation Expenses coverage
  • Cyber Breach Management Services Liability available upon request for most risks
  • Broad Definition of "Defense Costs" includes Insured Persons costs, fees and expenses under Sarbanes Oxley 304(a) and Section 954 of the Dodd- Frank Act, Corporate Manslaughter Acts costs and extradition costs
  • Broad definition of "claim" includes arbitration, formal administrative, and regulatory proceedings: Investigations commenced by the receipt of Target Letter or Wells Notice; Extradition coverage for Insured Persons; and written requests to toll or waive the applicable statue of limitations
  • Broad definition of "Insured Person" includes any director, officer, general partner, managing general partner, managing member or member of the management committee, Advisory Board Member, chief compliance officer, and foreign equivalents of the Insured Entity
  • Broad definition of "Private Fund Professional Services" includes investment management services to a Private Fund and creation, distribution, sale of securities in, or management or administration of a Private Fund
  • Broad definition of "Loss" to include violations for Sections 11, 12 or 15 of the Securities Act of 1933, plaintiffs attorney fees included in settlement or judgement of a Derivative Demand
  • Automatic coverage for newly created Investment Companies and Private Funds; and automatic run off coverage for terminated and/or liquidated funds
  • Nonprofit Double Excess ODL Coverage for "outside entities"
  • Narrow pollution exclusion: not applicable to nonindemnifiable loss
  • Insured vs Insured Exclusion replaced with an Insured vs. Entity Exclusion
  • Liberal notice provisions:
    • Notice of claim as soon as practicable, not later than 60 days after the end of the policy period
  • No Panel Counsel
  • No hammer clause
  • Advancement of defense costs up to 90 days
  • Noncancellable by the insurer except for nonpayment of premium
  • Bilateral discovery
business partners

Excess Scope of Coverage

  • Follows primary policy, but no broader than the most restrictive underlying insurance policy
  • No exclusions
  • Policy will not drop down due to exhaustion of sublimit, but policy will recognize payment of sublimit
  • Follows the underlying policy, designated as "Followed Policy," for key terms such as:
    • Cancellation
    • Discovery period
    • Notice of claims
  • Short policy form - only two pages in length


Ryan Nava

Vice President

East Region

Nicole Young

Senior Director

Steven Costa


Midwest Region

Robert Fuchs


South Region

Jonathan Hoffer


West Region

Eric Chan



24/7 Claims reporting is available at:


Nationwide's dedicated claims team works proactively to complete a thorough investigation of every claim and aggressively manage the defense of claims to help protect your assets. Our dedicated claims team has the experience and technical expertise in numerous jurisdictions to manage professional liability claims and complex litigation.