Executive Risk Insurance

Businesses are entrusted with their customers’ personal identification information (PII) and have a responsibility to protect this data from potential network and privacy exposures. Cyber liability insurance safeguards your organization from data or security risks. CBIZ Insurance Services offers policies that can be developed to cover legal liability, defense costs and expenses related to data breaches (e.g., notification costs, forensic accounting costs, credit monitoring costs). Our team of risk advisors will provide you with cyber liability coverage customized to address your unique needs.

Potential data and privacy exposures include:  

• Business Interruption
• Malicious Code
• Cyber Extortion Threat
• Missing Data
• Data Protection Loss
• Privacy Breach
• Digital Asset Theft
• Unauthorized Access
• Human Error

Directors & Officers Liability (D&O) Insurance provides coverage for your officers and board members, protecting them against damages (e.g., settlements, awards) and defense costs, arising from lawsuits alleging various wrongful acts, including:

• Actual or alleged management errors or omissions
• Misrepresentation, misleading statements or deceptive actions
• Neglect or breach of duties by your directors and officers

Our consultants have extensive underwriting and placement experience critical to securing the best D&O coverage tailored to meet your specific needs.

Employment Practices Liability (EPL) Insurance provides coverage to safeguard your organization, directors, officers and employees against claims of actual or alleged employment wrongful acts such as:

• Discrimination (e.g., race, age, gender)
• Failure to hire or promote.
• Failure to enforce adequate workplace policies & procedures.
• Sexual & workplace harassment wrongful termination (e.g., actual, constructive)

The landscape of employment continues to develop evolving and heightened exposures, posing potential exposures for your organization. By obtaining EPL insurance, you can protect your business against potential financial losses stemming from employment-related claims, mitigating the impact of such potentially catastrophic risk.

At CBIZ Insurance Services, we possess extensive experience in securing coverage for traditional and nontraditional errors & omissions exposures. We have successfully served companies of various industries and sizes, catering to their unique coverage needs such as:

• Accountants
• Architects & Engineers
• Consultants
• Defense Contractors
• Financial Firms
• Lawyers
• Manufacturers
• Technology/IT Companies

Many other professions can be liable for errors & omissions of failing to provide a service(s). As a result, your business could potentially suffer significant expenses related to defense costs, settlements or court awards. The terms professional liability and E&O protections are frequently used interchangeably to describe the coverage available to cover these risks. The insurance is generally written to cover costs and damages from claim allegations of failure to provide professional services where a service fee was charged. Your policy is tailored to meet your business’ specific needs.

In the present era of advanced technology, your business can conduct its operations quickly, easily and effectively. However, along with the numerous benefits of highly developed technology, there also comes a heightened risk of complex exposure that can potentially jeopardize your company’s financial and non-financial assets.

Commercial Crime Insurance protects your business from financial losses resulting from dishonest acts committed by both employees and nonemployees. It covers various risks including employee theft, fraud, computer fraud, burglary and robbery. Additionally, coverage for the ERISA-mandated employee dishonesty bond could be added to your corporate crime policy. At CBIZ Insurance Services, our risk professionals can help you develop a tailored crime program to address the specific risks and exposures of your industry or business.

Fiduciary Liability Insurance is designed to protect both your company and its trustees/fiduciaries. It provides coverage for:

• Actual or Alleged ERISA Violations
• Administrative Errors & Omissions
• Breach of ERISA Fiduciary Duties
• Civil Penalties for Inadvertent ERISA Violations
• COBRA or HIPAA Obligations
• Negligent Benefit Plan Administration
• Terminated, Sold or Merged Plans

Kidnapping, ransom and extortion pose significant risks for your business’ executives and travelers both nationally and internationally. Securing kidnap, ransom and extortion coverage can protect your organization and its employees. This policy typically provides financial protection against ransom demands and other expenses associated with global incidents of kidnapping or extortion. Key features commonly found in these policies include:

• Accidental Death & Dismemberment
• Bodily Injury Extortion
• Computer System Extortion
• Covered Event Related Expenses
• Covered Event Legal Obligations
• Kidnapping Ransom Demands

Media Liability Insurance is essential coverage for media organizations as it safeguards your business against claims resulting from gathering and communicating information. This comprehensive policy offers protection against a variety of claims that media entities face (e.g., copyright infringement, unlicensed and/or unauthorized replication of copyrighted materials, proprietary software).

At CBIZ Insurance Services, we have the expertise and the necessary relationships with domestic providers and international intermediaries. This allows us to effectively address various insurance and risk transfer requirements including mergers & acquisitions, international exposure and tax insurance. Our holistic and consultative approach enables us to specifically tailor comprehensive executive risk protection programs that align with your specific insurance needs and obligations.