Executive Liability Insurance for Private Companies and Executives

Our ExecSuite® - Executive Liability Program provides expanded coverage for the exposures faced by directors and executives in their work associated with corporate governance in privately held companies, nonprofit organizations, and professional services firms.

Why Berkley Select

From risks like age discrimination, wrongful termination, and harassment, we know the actions of directors and officers are being scrutinized more than ever. For more than 30 years, employers across America have trusted Berkley Select to protect their assets and reputation. We offer industry-leading insurance coverages and risk management services for private companies and nonprofit organizations. Policyholders can depend on state-of-the-art policy and coverage features.

Executive Liability Coverages

Directors and Officers Liability

Helps protect the personal assets of directors and officers from allegations of failing to act in the best interest of the organization.

Employment Practices Liability

Stand-alone employment practices liability coverage for private and public companies to protect against risks like age discrimination, wrongful termination, and harassment.

Fiduciary Liability Insurance

Coverage for individuals who either have a part in the decision-making of an employee benefit plan, administer a plan or its assets, or whose name or title is included on benefit plan documents are named as fiduciaries

Nonprofit Liability Insurance

Nonprofit liability insurance protects the assets of a nonprofit organization and its individual directors, officers, employees and volunteers from expenses arising from allegations of wrongful acts.

Innovative Risk Management Solutions

As a private company or executive, you have your own unique risk management needs. That’s why we provide complimentary employment loss prevention services that offer valuable solutions, including:

Toll-free hotline with access to personalized, professional HR consultation and expertise.
Policyholder accessible website container articles, sample documents, and loss prevention resources.

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Proven Private Companies and Executive Liability Claims Expertise

Berkley Select's core cultural value stresses personal accountability, allowing us to identify and address localized market conditions and more efficient claims handling than most other insurance providers. In addition, an extensive claims database identifies trends that can be shared with you, as a policyholder.

Two hands lift up a paper of marked importance

26%

Percentage of private companies reporting a D&O claim in the last three years

$387,700

The average reported loss of a D&O claim

$514 Million

Amount collected by the EEOC in 2022 for workplace discrimination

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Claim Scenarios

The Berkley Select claims staff stands out as a team of in-house, experienced professionals empowered to resolve claims. While no two claims are exactly alike, the following examples illustrate a range of claim scenarios.

Wage & Hour

A class action lawsuit was filed against a local restaurant on behalf of the store’s assistant managers. The lawsuit alleged that the restaurant misclassified the assistant managers as exempt under federal and state labor laws and did not pay them properly for overtime hours. The assistant managers claimed they often worked more than 50 hours per week. They said even though their title contained the word “manager,” the majority of the work did not include management duties. The assistant managers stated they should have been classified as non-exempt and entitled to overtime. The court agreed and the local restaurant had to pay more than $500,000 to settle the case. Defense costs totaled $80,000.

Hostile Work Environment

Two servers at the insured’s well-known, fine-dining restaurant sent demand letters to the insured alleging that one of the insured’s sous chefs engaged in severe harassment, discrimination and retaliation, and created a hostile work environment on the basis of gender, sexual orientation, and religion. Subsequent pre-litigation investigation revealed that this sous chef had been counseled previously for his objectionable behavior, and sent to sensitivity and anger management training, but his behavior had not stopped, creating liability exposure for the restaurant. In light of the significant exposure and in order to avoid adverse publicity, additional potential claims, and significant legal fees (both plaintiff and defense), a pre-suit mediation was arranged where the two matters were settled for a total of $580,000. Minimal defense expenses were incurred due to the early resolution.

Website Accessibility

The insured, a popular restaurant in San Francisco, was sued by an individual from Arizona who claimed that he was legally blind and that the insured’s website did not meet ADA standards for accessibility for the visually impaired. Coverage for the insured’s defense expenses was available under their policy, and defense counsel with expertise in this area was retained at competitive panel rates, who assisted the insured in determining that certain modifications to the website were necessary in order to bring it into ADA compliance. Defense counsel also assisted in negotiating a favorable settlement with the plaintiff. The matter was quickly resolved within the insured’s deductible, and without the need for any significant litigation.

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