Arch Insurance Group Announces New Coverage for Nonprofit Organizations

NEW YORK--(BUSINESS WIRE)-- Arch Insurance Group (Arch), a member of Arch Capital Group Ltd., recently announced a new state-of-the-art product – Arch Canopy Policy for Nonprofit Organizations^sm.

Nonprofit organizations are increasingly vulnerable to the expanding types of litigation which can have a devastating impact on an organization’s ability to continue its mission. Whether a nonprofit is alleged to have had potential conflicts of interest, breaches of fiduciary duty, or regulatory violations, the new Arch Canopy Policy for Nonprofit Organizations^sm provides strong management liability protection and service.

“Our objective with this product is to try to help nonprofits strengthen their risk management arsenal so that they can focus their energy on achieving the missions of their organizations,” said John A. Rafferty - Executive Vice President, Executive Assurance Division at Arch.

The five coverage components are:

• DIRECTORS, OFFICERS AND ORGANIZATION LIABILITY
• EMPLOYMENT PRACTICES LIABILITY
• FIDUCIARY LIABILITY
• CRIME
• KIDNAP RANSOM & EXTORTION

Arch is now directly writing this coverage with appointed agents and wholesalers. Key features include:

• Duty to defend policy with Optional additional limit for defense costs
• Broad definitions of Claim and Loss
• Investigation costs for Derivative Demands Brought By Members
• Crisis Management Costs for a Network Security Breach or Privacy Violation
• Additional limit dedicated for executives for non-indemnifiable claims
• Response Expense Coverage for Work Place Violence incidents
• Kidnap, Ransom & Extortion worldwide coverage.
• Crime coverage includes multiple features providing insurance for acts of theft, forgery and computer fraud.

Arch Insurance Group Inc. is a member of Arch Capital Group Ltd., a Bermuda-based company that provides insurance and reinsurance on a worldwide basis through its wholly owned subsidiaries. For more information, visit www.archinsurance.com.

Insurance coverage is underwritten by one or more member companies of Arch Insurance Group in North America, which consists of Arch Insurance Company (a MO corporation, NAIC # 11150), Arch Specialty Insurance Company (a NE corporation, NAIC #21199), Arch Excess & Surplus Insurance Company (a NE corporation, NAIC # 10946) and Arch Indemnity Insurance Company (a NE Corporation, NAIC #30830). Executive offices are located at One Liberty Plaza in New York City 10006. Not all insurance coverages or products are available in all jurisdictions. Coverage is subject to actual policy language. This information is intended for use by licensed insurance producers.

Arch Insurance Group Inc.
Stefanie Frelick, 646-563-6431
Vice President, Corporate Marketing & Communications

Source: Arch Insurance Group