Put Your Trust in IFS:Comprehensive Management Liability Insurance Solutions
Whether you’re an attorney accused of having a conflict of interest in representing a case or a contractor responsible for the design/build of a project, as a professional you are at risk of liability claims involving your work that cannot only impact your bottom line but also your reputation. In addition, all businesses face employment practices exposures, as this has increasingly become a complex area for companies to navigate as a result of tougher and expanded regulations, a proactive Equal Employment Opportunity Commission (EEOC) and emerging issues such as wage-and-hour disputes coming into the forefront. Additionally, directors and officers of companies are increasingly in the hot seat for allegations of employment practices violations, failure to prevent a data breach, and other management liability issues.
At IFS Insurance, we have our pulse on the types of issues that can land individuals, company and its management in litigation, and provide the solutions needed to respond. We offer Professional Liability, Employment Practices Liability Insurance (EPLI), Directors & Officers Liability (D&O), and Cyber Liability as part of our comprehensive insurance programs for businesses.
Professional Liability is essential coverage for all services firms, including attorneys, accountants, architects and engineers, and IT firms, medical care facilities and even construction firms these days. One lawsuit alleging that the services you performed – or didn’t perform – caused financial damage to a client can be significant, particularly when you add up defense costs, investigative expenses and judgments. We’ll secure a policy that is custom tailored to your profession and the services you provide.
Employment Practices Liability
EPLI insurance is designed to address allegations by an employee of emotional, physical or professional distress due to discrimination, sexual harassment, wrongful termination, or workplace misconduct. The policy provides coverage for legal costs, settlements and damages assessed against your company. Even those companies diligent about employee evaluations, recordkeeping, hiring, promotions, terminations and inter-office relationships, with strict policies in place and strong regulatory compliance histories, can be accused of wrongdoing. Without EPLI insurance, bear in mind that the legal defense expenses alone can be crippling—even if you’re found innocent.
Directors & Officers Liability
IFS offers D&O insurance for company directors and officers to respond in the event of accusations involving failure in your oversight or fiduciary roles. Directors and Officers insurance typically covers legal fees, financial settlements and damages. Some insurers also offer coverage for costs associated with regulatory or legal investigations.
D&O Liability insurance is available for publicly and privately held companies as well as nonprofits. You can insure individual directors and officers (Side A coverage) to protect their personal assets in a claim, and you can insure the company through Side B coverage, which reimburses the business for the costs of claims against directors and officers when the company indemnifies them. Side C coverage is available to protect the company when it is listed as a defendant in a claim.
Today data breaches, malware, ransomware and wire fraud are the new normal when it comes to risk. Companies of all sizes need to protect themselves against a host of exposures that can compromise the confidential information you possess – whether it’s employee personal information or customer data – with proactive security measures and a robust Cyber Liability insurance policy. At IFS, we will discuss your needs and put together a Cyber program to protect you against first- and third-party claims. This includes coverage for forensic research, notification costs, media relations, remediation expenses, monitoring, legal fees, business interruption related to a breach, and more.
Consider IFS Your “Chief Worry Officer”
Our dependability is known throughout the area and among our clients. We’re here to worry about the things that you shouldn’t have to so that you can have the peace of mind you need in the event of an accident or loss. For 50 years and counting we’ve been the go-to source for quality insurance protection for clients throughout Delaware, Pennsylvania, Maryland and New Jersey, and look forward to another 50 years delivering the same service. Call us at 800.598.0420 to find out how we can help you and your insurance needs.