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Hartford Financial Services Group Inc. said Wednesday it is extending its management liability insurance program for private entities to include nonprofits.
“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, Kansas City, Missouri-based senior managing director of specialty insurance for The Hartford, in a statement.
Coverages in the program include: directors, officers and entity liability, employment practices, fiduciary liability, fidelity/crime and kidnap and ransom/extortion.
The Hartford said other coverage options available through the program include: crisis management public relations reimbursement, workplace violence expense, increased wage and hour claim defense coverage and expense coverage for cyber breaches.
The package offers $10 million in limits.
“With Private Choice Premier, The Hartford is able to help nonprofits navigate potential risks and protect their organization’s interests and stakeholders,” Mr. Kosednar said.
The insurer said the coverage is available for trade and professional associations, chambers of commerce, libraries, foundations and charities, and museums, among others.