High Limit Excess Policy

Nuts & Bolts:
Fireman’s Fund Ins. Co. began the national roll-out of a very high-limit excess policy tailored to the unique needs of affluent and high-net-worth clients with special liability coverages for nonprofit directors and officers, as well as for those involved in managing family trusts. The policy includes up to $25,000 coverage for professional public relations counsel to manage reputational damage stemming from a lawsuit. Prestige Excess offers higher limits on private counsel and crisis management coverages, liability coverage for individual nonprofit directors and officers (which includes defense against allegations of mismanagement of funds), and liability coverage for alleged mismanagement of a family trust. It aligns with the Fireman’s Fund Prestige Home policy on a common set of conditions and definitions allowing greater customer flexibility.

Dollars:
$100 million limit for personal catastrophe coverage. Asset protection limits on the employment practices liability endorsement are $5 million over and above the limits of the insured’s main excess policy. The average premium for a $1million policy is $200 and it is not subject to a deductible.

Carrier:
Fireman’s Fund Group rated “A” by A.M. Best and S&P, admitted.

States Available: Arizona, Idaho, Illinois, Kansas, Pennsylvania, Utah, Wisconsin, and Wyoming, with 32 new states expected to come on-line by year-end.

Contact:
Michelle Kenney, (415) 899-4064.