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The Hartford Introduces New Management Liability Coverage For Nonprofit Organizations

Product will address specialized nonprofit management needs with customized solutions

July 12, 2017
"Expanding into the nonprofit marketplace supports our strategy of becoming a broader, deeper risk player while profitably growing our business."

HARTFORD, Conn.--(BUSINESS WIRE)--The Hartford has expanded its flagship management liability offering, Private Choice Premier℠, to include management liability coverage integrated with risk management services for nonprofit organizations.

“Nonprofit organizations face significant management exposures, from the way they run their operations, store sensitive information, implement employment practices, and oversee key accounting and finance positions,” said Michael Kosednar, senior managing director of specialty insurance for The Hartford. “With Private Choice Premier, The Hartford is able to help nonprofits navigate potential risks and protect their organization’s interests and stakeholders.”

Private Choice Premier for nonprofits features a comprehensive set of coverages that help protect against:

  • Directors, Officers and Entity Liability – Claims against everyday management and business decisions by directors and officers of an organization;
  • Employment Practices Liability – Costly employment-related lawsuits such as wrongful termination or discrimination;
  • Fiduciary Liability – Losses from claims alleging breach of fiduciary duty;
  • Fidelity/Crime – Losses incurred as a result of fraudulent acts or theft by employees and more; and
  • Kidnap & Ransom/Extortion in the U.S. and abroad.

Other comprehensive coverage options for nonprofits include:

  • Crisis management public relations reimbursement;
  • Workplace violence expense;
  • Increased wage and hour claim defense coverage; and
  • Expense coverage for cyber breaches.

“The nonprofit sector plays an important social role in our society and is a powerful contributor to the U.S. economy representing a significant part of the domestic workforce,” said Ross Fisher, head of specialty commercial at The Hartford. “Expanding into the nonprofit marketplace supports our strategy of becoming a broader, deeper risk player while profitably growing our business.”

Private Choice Premier for nonprofits will be available for trade/professional associations, chambers of commerce, libraries, foundations and charities, museums and more. It will also utilize HFP Pronto℠, an agent portal that offers a streamlined submission process with the ability to create quotes and request binding with the support of eSignature capabilities online.

To learn more about The Hartford’s nonprofit management liability coverage, visit thehartford.com/nonprofit.

About The Hartford

The Hartford is a leader in property and casualty insurance, group benefits and mutual funds. With more than 200 years of expertise, The Hartford is widely recognized for its service excellence, sustainability practices, trust and integrity. More information on the company and its financial performance is available at https://www.thehartford.com. Follow us on Twitter at www.twitter.com/TheHartford_PR.

The Hartford Financial Services Group, Inc., (NYSE: HIG) operates through its subsidiaries under the brand name, The Hartford, and is headquartered in Hartford, Conn. For additional details, please read The Hartford’s legal notice.

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Some of the statements in this release may be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. We caution investors that these forward-looking statements are not guarantees of future performance, and actual results may differ materially. Investors should consider the important risks and uncertainties that may cause actual results to differ. These important risks and uncertainties include those discussed in our 2016 Annual Report on Form 10-K, subsequent Quarterly Reports on Forms 10-Q, and the other filings we make with the Securities and Exchange Commission. We assume no obligation to update this release, which speaks as of the date issued.

From time to time, The Hartford may use its website to disseminate material company information. Financial and other important information regarding The Hartford is routinely accessible through and posted on our website at https://ir.thehartford.com. In addition, you may automatically receive email alerts and other information about The Hartford when you enroll your email address by visiting the “Email Alerts” section at https://ir.thehartford.com.

*Hartford Financial Products (HFP) is an underwriting unit of The Hartford specializing in management liability insurance.

Contact:

The Hartford
Jeffrey Welch, 860-547-7623
Jeffrey.welch@thehartford.com

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