Freedom Specialty Insurance Introduces Excess Policy

Freedom Specialty Insurance Co. has launched its First Choice excess policy form.

The coverage includes:

• Policy follows “followed policy,” easy to ensure terms match the “followed policy”
• Reduction or exhaustion of underlying limits coverage section includes wording for payment by “underlying Insurer,” “insured” and “DIC insurer”
• No discovery provision, policy will use the terms of the “followed policy”
• No termination or cancellation provision, terms as per “followed policy”
• No pending and prior litigation exclusion, policy will use the language of the “followed policy”
• Policy can sit above any of Freedom Specialty’s products—directors & officers, fiduciary liability, private equity, asset management and other management and professional liability coverages
• Up to $20 million in available capacity