LIU pursues an unspecified amount of growth in one of its underwriting staples, EPLI, by marketing two offerings: Private Advantage packages and monoline coverage. LIU underwriters can serve virtually any size and type of EPLI risk in the for-profit coverage world.
PRODUCT: Private Advantage Policy and monoline employment practices liability insurance
COMPANY: Liberty International Underwriters, also known as Liberty Insurance Underwriters, Inc. (admitted)
BEST RATING: A
AVAILABILITY: Liberty Mutual unit LIU works with appointed agents and brokers. For a possible company appointment, contact a marketing representative or visit liu-usa.com.
FOCUS: LIU pursues an unspecified amount of growth in one of its underwriting staples, EPLI, by marketing two offerings: Private Advantage packages and monoline coverage. LIU underwriters can serve virtually any size and type of EPLI risk in the for-profit coverage world. EPLI Vice President Melissa Mattioli-Maza says the company can attract large accounts with monoline protection, and Alan LeNoble, vice president of international management liability, notes LIU packages can serve small and mid-size risks. They trumpet coverage for workplace bullying resulting in emotional distress that arises from intimidation through the use of electronic communication tools, such as social networking sites.
UNDERWRITING: Private Advantage’s basic package policy consists of EPLI, directors & officers liability, fiduciary and commercial crime. The company offers $10 million per coverage limit and $20 million aggregate. Defense costs usually are within policy limits for either Private Advantage and stand-alone EPLI protection, but they can be offered outside limits for an added cost. Private Advantage minimum deductibles run $5,000 for EPLI and D&O. Private Advantage add-ons can include third-party liability to EPLI and up to $100,000 in coverage for the wage and hour protection when overtime pay affects an employee’s cause of action. Stand-alone EPLI per-claim and aggregate limits range from $1 million/$1 million to $25 million/$25 million with deductibles generally exceeding $25,000. Punitive damages are covered on a most favorable venue basis. Both the Private Advantage and monoline coverage contracts have duty-to-defend provisions,
but each has an opt-out option for allowing insureds to choose their own counsel.
MINIMUM PREMIUM: Varies by risk.
TARGET: For monoline EPLI coverage, underwriters look at all types of public and large private companies for firms with typically more than 1,500 employees and more than $250 million in assets. For Private Advantage, LIU focuses on companies with less than 1,500 employees and less than $250 million in assets.
COVERAGE TERRITORY: All states.
CONTACT: Melissa Mattioli-Maza, vice president of employment practices liability (monoline coverage), 212-208-4142; and Alan LeNoble, vice president of international management liability, 212-208-4106; Liberty International Underwriters, 55 Water St., 18th Floor, New York, NY 10041; liu-usa.com.
Ron Lent is an IA contributor.
