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Understanding the coverage terms, conditions and policy mechanics will assist you in avoiding unnecessary roadblocks and preclusions to coverage that may have otherwise been available.

  1. NOTIFICATION OF CLAIMS
    Reporting as soon as possible is one thing, but knowing what constitutes a claim is equally important.

  2. DUTY TO DEFEND
    Under a duty to defend policy, the insurance company retains the right and duty to defend a covered claim once it is tendered to the insurer — regardless of whether the claim is groundless, fraudulent, or lacks merit.

  3. SUBSIDIARIES VS. AFFILIATES
    Transparency and communication are critical to ensure coverage extends to all entities and related entities if that is the intent.

  4. ORGANIZATIONAL CHANGES
    An organizational change should be promptly reported to your insurance broker and insurer to ascertain whether it triggers certain provisions within your executive risk policy.