E-Risk's BAM product is flexible package offering Employment Practices liability, Directors and Officer liability (with full entity coverage), Technology, Media and Professional Services or Miscellaneous Professional Liability, Fiduciary liability and Crime coverage. Any of these coverages can be chosen and separate limits of liability for each coverage are automatically provided.
Defense costs to be in addition to limits of liability
Claim specifically includes any proceeding before the Department of Labor or the Pension Benefit Guaranty Corporation
Coverage for any type of single employer plans, including Employee Stock Ownership Plans
Defense costs coverage for 5% and 20% penalties imposed under 502(i) and 502(l) of ERISA
No discrimination exclusion
Automatic coverage for newly acquired or created plans
HIPAA Coverage
Ability to give Notice of potential claims during Discovery Period
Automatic waiver of recourse provision
Full severability of all exclusions
No retention (when EPL Coverage Section purchased)
In addition to the above coverage highlights, our BAM General Terms and Conditions have the following coverage benefits:
Duty to defend form
World wide coverage
Coverage non cancelable by Underwriters except for non-payment of premium.
Broad definition of Insureds, including coverage for Directors and Officers, employees as well as the corporate entity and any such organization as a debtor -in-possession or a bankruptcy estate of such entity.
Severability as respects all exclusions and the application.
Spousal/domestic partner extension
Broad definition of subsidiary to include automatic coverage for newly created or acquired subsidiaries with no threshold or reporting requirements. Automatic coverage for joint ventures.
Multiple year run off and discovery period options offered at time of quote.
