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CNA Financial Corp. said Tuesday it is introducing a modular management liability policy with streamlined language and a flexible policy structure that is designed to be customized for a wide range of businesses and nonprofit organizations.
Epack3 offers six optional coverage parts, according to CNA’s statement: directors and officers liability; employment practices liability, fiduciary liability, crime, kidnap, ransom and extortion and nonprofit D&O liability.
Up to $10 million in limits by line of coverage is available, said Paul Larson, CNA’s Chicago-based senior vice president, financial institutions, management liability and miscellaneous professional liability.
CNA said it plans additional coverage for introduction in 2020.
A CNA Financial Corp. unit is not obligated to cover an Oklahoma wastewater treatment firm under an “insured v. insured” exclusion in its directors and officers liability insurance policy, says a federal district court in a ruling Monday.