Primary Scope of Coverage

  • Menu-driven policy form with coverage parts for D&O, E&O, ODL with EPL and Fiduciary Liability available via endorsement
  • Broad definition of "claim" includes criminal proceedings, SEC investigations, Extradition, and Derivative Demands
  • Broad definition of “executive” includes any director, officer, trustee, general partner, managing general partner or managing member, member of the board of managers, management committee member or Advisory Board Member or an Insured Entity, including any natural person appointed Chief Compliance Officer
  • Broad definition of "private equity professional services" includes due diligence and investigation of prospective Portfolio Companies by any Insured and selection of third-party service providers for any Portfolio Company
  • Coverage for insured persons sitting on the board of any portfolio company (Double Excess)
  • Double Excess ODL Coverage for all other “outside entities”
  • Narrow pollution exclusion: not applicable to non-indemnifiable loss
  • Narrow entity vs. insured exclusion:
    • Does not apply to claims by a bankruptcy or insolvency receiver, trustee, etc., for the entity
    • Does not apply to a claim brought by a Private Equity Fund if, in the written opinion of independent legal counsel, failure to make such Claim would be a breach of fiduciary duty owed to investors
  • Liberal notice provisions:
    • Notice of claim as soon as practicable after Chief Executive Officer, Chief Financial Officer, General Counsel or Risk Manager first learns of claim, not later than 60 days after the end of the policy period
  • Liberal representations clause:
    • Knowledge of any insured person not imputed to any other insured person
  • Insuring Agreement A is non-rescindable
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
    • Insuring Agreement A is nonRescindable
  • No panel counsel

Contacts

Ryan Nava

Associate Vice President
212-329-6930

Peter Trochev

Associate Vice President
212-329-6928

East Region

Nicole Young

Senior Consultant
212-329-6944

Midwest Region

Robert Fuchs

Director
312-204-7104

South Region

Reid Schluter

Director
212-329-7748

West Region

Eric Chan

Director
415-544-5793

Support

24/7 Claims reporting is available at:

fsreportaloss@nationwide.com

1-888-275-7992

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.