Zurich North America Commercial Creates New Dedicated Management Solutions Practice Aimed at Public Emerging Growth Companies with Revenues under $500 Million

SCHAUMBURG, Ill.--(BUSINESS WIRE)-- Zurich, a leading property and casualty insurance provider globally and in North America, today said its Specialties' Management Solutions Group has created a new dedicated practice aimed at offering management liability solutions to public emerging growth companies with revenues under $500 Million. The new practice, called Public Markets Group, will offer Directors & Officers (D&O), Employment Practices Liability, Fiduciary and Crime insurance coverages.

“We see this business segment as offering immense growth opportunities utilizing our market-leading public company form, claims experience and international value proposition to expand into this space, which encompasses 5,400 publicly traded companies,” said Michael Karmilowicz, head of Zurich North America Commercial's Management Solutions Group. “With this new dedicated practice, Zurich will have the ability to provide a disciplined and consistent approach to this market segment.”

“For this market segment, Zurich will have the ability to offer the Public Markets endorsement for use in conjunction with the D&O Select Primary Form,” said Beth Goldberg, head of the Public Markets Group for Zurich North America Commercial. “This endorsement will raise the bar by adding even more valuable policy enhancements to respond to today's ever-changing risk environment in this focused market segment.”

Policy Enhancements include:

• Definition of 'executive officer' limited to a company's chief executive officer, chief financial officer and in-house general counsel
• Employed Lawyers Coverage extension
• Fully non-rescindable policy
• Increased automatic coverage (up to 35 percent) for newly acquired organizations
• Notice of Claim limited to general counsel, risk manager or their functional equivalent
• Alternate Dispute Resolution requirement deleted
• Disclosure management coverage sublimit

The Public Markets Group will have offices in New York (serving the East Coast), Chicago (serving the Midwest) and San Francisco (serving the West Coast).

About Zurich

Zurich in North America is a part of Zurich Financial Services Group (Zurich), an insurance-based financial services provider with a global network of subsidiaries and offices in North America and Europe as well as in Asia Pacific, Latin America and other markets. Founded in 1872, the Group is headquartered in Zurich, Switzerland and employs approximately 60,000 people serving customers in more than 170 countries, including more than 9,500 employees in North America.

Zurich was the first overseas insurer to enter the U.S. market in 1912. According to Highline Data LLC (NAIC 2008), Zurich in North America (www.zurichna.com) is the second-largest writer of commercial general liability insurance and the fourth-largest commercial property-casualty insurance company, serving the global corporate, large corporate, middle market, specialties and programs sectors. Zurich's risk engineering services in the United States are provided by Zurich Services Corporation.

This is intended as a general description of certain types of insurance and services available to qualified customers through the companies of Zurich in North America.Your policy is the contract that specifically and fully describes your coverage.The description of the policy provisions gives a broad overview of coverages and does not revise or amend the policy. Insurance coverages underwritten by individual member companies of Zurich in North America, including Zurich American Insurance Company. Certain coverages not available in all states. Some coverages may be written on a nonadmitted basis through licensed surplus lines brokers.

Media contact:
Steve McKay
Zurich
(847) 706-2265
[email protected]

Source: Zurich