CORAL GABLES, Fla.--(BUSINESS WIRE)--
Chief Executive Insurance Services today launched an enhanced Personal Director’s Liability (PDL) policy available to members of Chief Executive Group and their spouses.
“A number of our members have expressed concern about the adequacy of protection afforded to them by the directors and officers liability insurance policy purchased by the organizations on whose boards they serve,” said Wayne Cooper, Chairman and President of Chief Executive Group. “In response, we partnered with Chief Executive Insurance Services to offer a robust, flexible product to our members which covers them for the multiple boards on which they sit.”
This enhanced PDL policy, issued in the name of the independent director, provides excess directors and officers liability insurance for one or more board positions -- whether publicly traded, privately-held or non-profit -- and travels with the insured individual. This PDL policy is an attractive option for independent directors who seek to control the purchase and level of their insurance protection.
The PDL insurance policy is designed to offer coverage exclusively for the insured independent director in excess of other valid and collectible insurance, but before the individual is required to pay from his or her own personal assets. An enhanced endorsement, tailored for Chief Executive Group members, offers policy upgrades, including worldwide protection, advancements of defense expenses on a current basis and a longer extended reporting period coverage. The enhanced PDL policy is also available for purchase by members’ spouses to provide coverage for their outside corporate or philanthropic board positions. The policy offers limits up to $5 million.
“Chief Executive Insurance Services has excelled by bringing customized solutions to its client base. This new enhanced PDL product enables us to better serve our clients by offering insurance coverage for an often overlooked area of risk exposure," said Ivor Bamberger CEO of Chief Executive Insurance Services.
Chief Executive Insurance Services, LLC, a subsidiary of the MDW Insurance Group, was founded to provide its clients with the highest quality insurance products delivered with unparalleled professionalism, expertise and personal service. Headquartered in Coral Gables, Florida, MDW Insurance Group Inc., through its subsidiaries, offers a broad range of insurance products and related services, serving business, public entity, individual, trade and professional association clients nationwide.
For more information, please visit www.chiefexecutiveinsurance.com or call 1800-813-4210
Marisela Monjarrez, 305-444-2324