To enhance the placement of follow form excess management and professional liability coverage
Chartis has introduced Excess Edge, an insurance solution developed by its executive liability division to enhance the placement of follow form excess management and professional liability coverage.
The Excess Edge offers coverage on a form that reduces the administrative burden facing brokers and their clients when placing excess insurance for directors and officers liability, employment practices liability, fiduciary liability, errors and omissions liability and other executive liability exposures.
The Excess Edge form was designed with language that streamlines policyholder obligations and eliminates unnecessary terms and conditions. The customer access to the Excess Edge layer is provided through recognition of erosion language built directly into the insuring clause, and the new changes provision waives the endorsement requirement for certain post-issuance changes.
Michael Smith, president of executive liability at Chartis, said: Heavily layered coverage towers continue to pose challenges for brokers and their clients looking to place critical excess coverage, said Michael Smith, President of Executive Liability. Excess Edge responds to our customers’ need to more easily secure that coverage.