Coverage Highlights

  • Definition of customer includes named beneficiary of any account held by the organization’s trust department who is entitled to receive professional services
  • Insured persons include directors and officers or their equivalents outside the U.S. as well as full-time, part-time, temporary, leased, or seasonal employees, and volunteers
  • Protection extends to the assets of spouses or domestic partners of insured persons
  • Coverage for punitive or exemplary damages is provided under the law most favorable to the insurability of these damages, where permitted by law
  • Insured has right to choose counsel
  • Noncancelable by the insurer except for nonpayment of premium
  • Worldwide coverage
  • Favorable “consent to settle” language (70/30)