Coalition expands executive risks offering to surplus lines paper

It will be underwritten by certain entities at Lloyd's

Coalition expands executive risks offering to surplus lines paper

Professional Risks

By Kenneth Araullo

Coalition has announced the availability of its executive risks insurance products through surplus lines paper, enabling a broader spectrum of businesses to access comprehensive management liability coverage.

The suite of products encompass vital aspects such as directors and officers liability (D&O), employment practices liability (EPL), fiduciary liability, and crime insurance. The surplus product is underwritten by specific underwriters at Lloyd’s, all of which are rated A by AM Best.

By integrating surplus lines paper, Coalition has extended the accessibility of executive risks insurance to all 50 states and the District of Columbia. It is now accessible to larger businesses, encompassing those with up to 1,000 employees and assets amounting to $500 million.

This strategic expansion also enables Coalition to provide coverage across a diverse array of industries, including healthcare, education, private equity, venture-backed portfolio companies, and numerous not-for-profit organizations.

Coalition’s executive risks insurance product relies on the company’s proprietary digital scanning technology to gather and evaluate real-time data on potential policyholders’ risk domains, enabling the production of a bindable quote within minutes.

The company also touts its offering as one of the most comprehensive sets of executive risk management services available, encompassing a hotline for HR and D&O-related pre-claim matters, tailored risk evaluations, mid-term notifications, employee and board of directors training, discounts on background checks, handbook builders, and more.

“When policyholders choose Coalition for executive risks insurance product offerings, they get more value during their policy term, including before the policy is bound and long after,” Coalition executive risks lead Patrick Mitchell said. “As businesses continue their digital transformations, they also adopt greater risks. Our risk management services provide policyholders with tools to mitigate this risk and value whether or not they ever experience a claim – making them smarter and safer in the process.”

Earlier this year, the active insurance provider also announced the launch of a vulnerability scoring system aimed at helping risk managers mitigate potential cyber threats.

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