Philadelphia Insurance Companies Offer New Professional Liability Product

The Philadelphia Insurance Companies have announced the release of their newest professional liability product “Private Company Protection Plus.”

“This product is designed specifically for private companies,” said the bulletin. It “provides coverage for Directors and Officers Liability, Employment Practices Liability and Fiduciary Liability,” with available limits up to $10,000,000 for each coverage part. “Policyholders have the option of purchasing equal limits of liability for each coverage part or customizing limits to meet their individual needs.”

Sean Sweeney, Executive VP and Chief Marketing Officer, commented: “Our Private Company Protection Plus allows the policyholder to customize their management liability insurance needs by enabling them to purchase different limits and retentions based on their own business requirements. It’s competitively priced and offers comprehensive coverages so the officers can focus on the things that matter. Given all the turmoil in the D&O market today, we wanted to provide the marketplace a solution offering flexible limits and state-of-the-art coverages.”