How do I apply for coverage?
|
 |
| Download the application form from this site. (If you have a question about which application is correct, please call). Complete, sign, date and return the application and attach all additional information requested in the application. Answer every question completely or state "N/A" if it is not applicable. |
» Back to top
|
| |
|
For how long are your quotes valid?
|
|
| Our terms are valid for up to 30 days. After that, the information in the application must be up-dated. In addition, each application ends with a claims declaration that must be signed and dated by the Insured. The date of signature must be less than 30 days old at the time of binding. If it is older we will need either a separate Claims Declaration from the Insured or the original application re-signed and re-dated. Please note that coverage cannot be bound prior to the date of signature on the application. |
» Back to top
|
| |
|
Are your D&O policies written on a claims-made or occurrence form?
|
|
| Our policies are written on a claims-made form. |
» Back to top |
| |
|
Are your rates competitive?
|
|
| Our program is competitive in terms of both cover and premium value. |
» Back to top |
|
|
|
Do I need an agency agreement to do business with Elliott Special Risks LP?
|
|
| We don't require an agency agreement, nor do we have minimum premium volume requirements. However, our premium payment terms may be stricter than those of your standard markets. |
» Back to top
|
| |
|
Will you provide terms based on another insurer's application?
|
|
| Yes, we will provide a rough indication of terms subject to the receipt and acceptance of the original signed and dated Elliott Special Risks LP application (or specific Insurer application in certain instances) prior to binding. The application also forms part of our policy document. |
» Back to top
|
| |
|
I run a privately owned company (or non-profit organization) why do I need D&O insurance?
|
|
| More than 50% of D&O claims are brought by claimants other than shareholders, including employees, competitors, regulators, association members and governments including statutory liabilities for unpaid wages, vacation pay and taxes. At the very least, directors and officers need to protect their personal assets from the expensive cost of litigation. |
» Back to top
|
| |
|
Can prior acts coverage be provided?
|
|
| Yes, prior acts coverage is typically provided subject to the application and a current exclusion for pending and prior litigation. Continuity of coverage can also be provided back to the original application for the first D&O policy held provided there are no gaps in the coverage. We will require copies of the first original application and all policies during the continuity period. |
» Back to top
|
| |
|
Will you underwrite the D&O cover without writing the Comprehensive General Liability (CGL) cover?
|
|
| Yes, we will write D&O as stand-alone product. Alternatively, we can often provide a quote for CGL cover as well, depending on the risk. |
» Back to top
|
| |
|
What are your 'no-go' risks?
|
|
| We are not a market for major airlines, tobacco companies, nuclear plants, waste management operations in the U.S.A., investment advisors, mutual funds, hedge funds and any risk with significant U.S. SEC exposure. |
» Back to top
|