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Member, Beacon International Group, Ltd.
Embroker Inc., a digital commercial insurance brokerage, said Wednesday it is introducing a fully digital directors and officers insurance policy.
The San Francisco-based brokerage said the policy is specifically designed for venture capital-backed technology startups. Coverage is available to growth stage and pre-initial public offering business with up to $250 million in funding, the statement said.
The program is insured by Charlotte, North Carolina-based Clear Blue Insurance Group and reinsured by Munich Reinsurance Co.’s Digital Partners unit, according to a spokesman for Embroker.
Embroker said the D&O policy is part of its new digital startup program, which also includes employment practices liability and fiduciary liability insurance.
According to the spokesman, Embroker is offering limits of between $1 million and $5 million for D&O and EPLI, and a $1 million limit for fiduciary liability.