Liability Insurance

Board and officer leadership in any institution faces unique risks and exposures, including lawsuits from shareholders as well as employees, competitors, suppliers and the government. Our team can construct policies that customize the protection your executives and your organization expect to run their business, and we reassess your insurance and risk management needs as business circumstances change.

Our policies provide protection to directors and officers against personal liability for financial losses, damages and expenses incurred arising out of wrongful acts or omissions in their capacity as a director or officer of a company.

Directors and Officers liability insurance coverages provide indemnity to directors and officers for:

• Legal and defense costs
• Out of court settlement

Employment practices liability insurance (EPLI) covers businesses against claims by workers when their legal rights as employees of the company have been violated. From sexual harassment to wrongful termination and many other potential employment perils, we have employment practices liability insurance coverage ready to protect against either class actions or single-plaintiff claims.

The policies will reimburse your company against the costs of defending a lawsuit in court and for judgments and settlements.

Our commercial general liability coverages operate as a combination of public liability and product liability policies. It is a third-party legal liability cover that protects business organizations against liability claims for bodily injury and property damage arising out of premises, operations, products and completed operations; and advertising and personal injury liability.

Product liability covers legal liability incurred by an insured because of bodily injury or property damage resulting from the use of a covered product. Public liability covers legal liability incurred by an insured due to bodily injury or property damage arising out of premises and operations of the insured.

Organizations are getting smarter, and so are the fraudsters. Additionally, every organization is different in multiple ways. Commercial crime insurance, also known as employee dishonesty, provides protection against direct financial frauds to businesses done by either employees or a third party or a by a collision of both. Frauds may include theft by employees, forgery, robbery or an electronic crime, such as fraudulent manipulation of the insured's computer system or fraudulent electronic funds transfer instructions, social engineering,etc.

Cyber liability insurance covers financial losses that result from data breaches and other cyber events. It covers both first-party and third-party expense coverages. First-party expenses include cover for fund transfer fraud, computer fraud, cyber extortion, data restoration, business interruption, privacy notification expenses, public relation expenses and third-party coverages, such as legal liability from customer claims, defense costs, and reputational and content liability.

Beyond our coverage expertise, our proprietary analytics can analyze your technology, media and professional liability exposures based on your risk profile and risk control techniques. Our analysis considers multiple methods, including peer analysis or benchmarking, historical claim loss analysis and a series of complementary quantitative loss models that combine to assess this complex risk. Our models are first of their kind, leading the brokerage industry, which is not surprising given our leadership track record, including more than 20 years of experience – true cyber pioneers.

We offer specialized coverage for executives and employees and their families, whose work and travel put them at risk of kidnapping and possible extortion. This insurance coverage includes highly trained rescue and security personnel. This coverage is a best practice must for all companies, and we can analyze both coverage and carrier response teams that are the essential value of the product. And yes – we can obtain ransomware coverage for you as well.

Workmen's compensation enables the employer to pay the compensation to the employees or for their family in case of death or bodily injury (permanent partial disablement / permanent total disablement / temporary disablement) caused due to injury and accident at the workplace (including certain occupational diseases) arising out of and in the course of employment

The professional Indemnity policy, also known as Errors and Omissions (E&O) policy covers damages and legal costs payable by the insured in the event there is a claim for Breach of Duty in providing or failure to provide the given professional services.

Breach of Duty covers any actual or alleged negligent breach of duty, act, error, misstatements, misleading statements, breach of confidentiality or omission including any form of invasion of privacy, publicity, false light, public disclosures of private facts, intrusion, commercial appropriation of name or likeness, wrongful entry or eviction, trespass or eavesdropping.

We can help you cover legal costs and expenses incurred in your defense, as well as any damages or costs that may be awarded.

The policy offers protection to directors, officers or employees of the offering company from actual or alleged untrue or misleading statements or information. It also extends protection to controlling and selling shareholders, along with underwriters of the offering for breach of warranty in the placing agreement/ underwriter agreement.

Organizations regard research and development as a key to growth, and clinical trial insurance is a critical insurance cover for such companies. It provides protection against legal liability arising out of trials. Coverages can be extended to sponsors/organizers, medical persons, sub-contractors, doctors, consultants, physicians, hospitals, contract research organizations, nurses,etc.

Bankers blanket bond is a specialized product for banking and financial institutions against risks of employee dishonesty, premise risk, forgery, cyber liability and computer crime. It is a highly customized product allowing organizations to select coverage sections most relevant to them.

Mutual fund asset protection insurance is a specific product offered to mutual funds covering them for errors, omissions, misstatements, misleading statements, neglect, breach of duty or breach of trust.

This coverage provides protection to organizations against legal liabilities arising because of emission, discharge, release or escape of any contaminants, irritants or pollutants into or on land, the atmosphere or any watercourse or body of water. Apart from legal defense costs, the policy pays for any bodily injury, property damage, business interruption and clean-up costs incurred during the course of the event/arising from the claim.

The cost of recalling, replacing or destroying a contaminated product can be huge for any company. Not to mention the business interruption and impacts to customer relationships that such incidents can have on a company. Contaminated product insurance covers recall costs, rehabilitation costs, loss of gross profits following accidental contamination, malicious contamination or government recall.

The negotiation and management of corporate mergers and acquisitions require a significant amount of coordination, expertise and time to execute successfully. Representations and warranties form an important part of any deal negotiation. Our M&A team has the experience to identify risk and insurance issues related to the target business and allow buyers and sellers to shift a portion of transaction risk to insurers by means of warranties and indemnities (W&I) insurance. We provide analysis, custom policy forms and pre-M&A analysis that leads to selecting the best markets for your transaction and ultimately delivers customized coverage for buyers and sellers in mergers and acquisitions. We have several dedicated attorneys at Gallagher to assist in the process from start to finish.