Financial Lines Insurance
Clements Financial Lines coverages ensures the financial stability of your organization and the personal financial protection of your leadership and officers in the event of expensive lawsuits triggered by the decisions or actions of employees, board members, or officers acting on behalf of the company.
With our Financial Lines coverage, Clements can help you financially protect your organization and your senior leadership with easy solutions.
Directors & Officers Liability Insurance
Leadership Brings Responsibility. We’ll Help You Shoulder It.
Clements Worldwide Directors & Officers Liability Insurance is designed to protect directors, officers, and board members against liability ensuing personally on them. These can include claims from regulators, shareholders, and employees for employment practices liability as well as employment-related personal liability claims such as errors in judgement, negligent supervision, hiring / firing practices, conflicts of interest, or unauthorized payments.
International Errors and Omissions Insurance Coverage or Professional Liability
Lawsuits and settlements are expensive and time-consuming. Errors and Omissions insurance (also known as Professional Liability) protects your organization from claims of errors & omission, negligence, or failure to deliver work under a contract. Your organization will be covered up to your specified limit for the cost of legal defense, court costs, and any resulting judgments anywhere in the world.
Global Employment Practices Liability Coverage
Claims by a disgruntled employee can include libel, slander, misrepresentation, or breaches of an implied or actual employee contract. They can also bring charges of emotional distress, mental anguish, or humiliation. Even with the best human resources processes, defending against a lawsuit can run into hundreds of thousands of dollars. And it can get even more costly and complicated across multiple countries.
Clements Employment Practices Liability insurance protects your organization and its directors & officers, from employee lawsuits –– by covering settlements and legal costs. Allegations can include – hiring / firing practices, harassment, and discrimination. We’ll also help mitigate risks and ensure that your claims are supported by insurance specialists with expertise in your local geography and your industry.
Crime and Fiduciary Liability Coverage
The average organization – including nonprofits – loses 5% of its revenues to fraud each year. The types of fraud can range broadly from employee dishonesty, theft, expense report fraud, forgery, funds transfer fraud, phishing, social engineering, credit card fraud to identity theft.
Crime insurance protects organizations from losses due to either employee dishonesty or third- party fraud.
Fiduciary claims may result even if there was no intent of fraud. Anyone involved in the management of a retirement or health plan can be held personally liable if they violate the Employee Retirement Income Security Act or if it is found they did not:
- Act in the best interests of plan participants in the managing of these benefits;
- Exhibit a “duty of care” that an average person could be expected to exhibit with such responsibilities;
- Diversify plan assets; and
- Follow plan guidelines.
Question of intent can make defending such claims expensive even if they are without merit. Our coverage can include a broad definition of “employee”, including consultants, temporary or seasonal employees, non-compensated officers, interns and outside council. And it covers your organization worldwide.
Source: Association of Certified Fraud Examiners 2012 report.
