Freedom Specialty Insurance Company

Private Equity

Forms and Applications (PDFs)

Contacts

East Region
Thomas Iorio
Senior Vice President
212-329-6906
Midwest Region
David Bock
Director
312-204-7101
Southeast Region
Kellen Dougherty
Director
678-280-0489
West Region
Jennifer Law
Assistant Vice President
415-544-5790

Primary Scope of Coverage

  • Menu-driven policy form with coverage parts for D&O, E&O, ODL, EPL, and Fiduciary Liability
  • Broad definition of “claim” includes criminal proceedings and SEC investigations
  • Broad definition of “insured person” includes any director, officer, general partner, managing general partner, managing member or member of the management committee of the insured entity
  • Broad definition of “private equity professional services” includes the insured entity’s purchase or sale of, or offer to purchase or sell, any securities issued by a 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 nonindemnifiable loss
  • Narrow insured 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 directly or derivatively on behalf of an insured entity by a security holder of such insured entity
  • Liberal notice provisions:
    • Notice of claim as soon as practicable after risk manager or general counsel 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 nonRescindable
  • No panel counsel

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

Marketing Materials

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.

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