Know Your Exposures

Changing litigation and regulatory landscapes bring new requirements for corporate risk management. Lockton is on top of it. Our team of specialists helps you understand your exposures, reduce your risks and keep you covered.

Our business risk experts identify the issues that may affect your company’s financial performance, brand and culture. Then we come up with solutions. As your partner, we:

  • Educate your executive and risk management team on exposures and risk-transfer and -mitigation solutions.
  • Differentiate your company with the underwriting community in order to obtain optimal risk transfer options.
  • Provide ongoing communication of legal and regulatory changes that may affect your company.

Executive Risk

Executive Risk Exposures infographic

Directors and Officers Liability

Companies and their directors and officers face increasingly strict regulations and a hostile litigation environment. A decision that adversely affects shareholders, employees, customers or creditors, or that runs afoul of a regulatory issue, can lead to a lawsuit or regulatory investigation that may leave individuals personally liable. A directors and officers (D&O) liability insurance policy offers individuals and the company protection from negligent wrongful acts.

D&O insurance is intended to provide cover for directors, officers and other insureds—including the company itself in certain circumstances—for liability that arises out of their leadership roles.

While D&O coverage is subject to some exclusions and other coverage terms, the policy typically pays for defense costs, settlements and judgments, usually in excess of a deductible for those claims.

The Lockton Process

The Lockton Process Infographic

Employment Practices Liability

As an employer, you face many risks, from breach of contract to discrimination. Choosing the right employment practices liability insurance program takes careful consideration. Lockton understands the issues. We know how to protect both your company and its employees, and our specialists tailor policies to suit your organization’s needs.

Employment practices liability insurance protects your company against the financial losses associated with employment litigation. This may include reimbursement for settlements, judgments and the expense of defending yourself when you are accused of:

  • Breach of employment contract.
  • Discrimination against employees or prospective employees.
  • Wrongful termination.
  • Sexual or other harassment.
  • Misclassification of employees.
  • Failure to pay overtime.

An effective policy also protects against the implications of changing employment legislation. Our experts will make sure you are covered.

Fiduciary Liability

When you offer retirement and other benefits plans, you face the risk of litigation from employees and others stemming from the management and administration of those plans, even if you use a third-party administrator. Our experts can help protect you.

A fiduciary liability insurance policy covers lawsuits alleging breach of fiduciary duty or similar claims with regard to retirement and other benefit plans.

Employed Lawyers Liability

Where there may be a gap in general liability and D&O insurance policies, this coverage is designed for unique malpractice risks faced by in-house lawyers, their staff and, in certain circumstances, independent contractors.

Crime

If an employee steals money, securities or property from you or a client, a crime policy reimburses you. Our experts can help you choose the right coverage for your company.

A crime policy can also provide coverage for loss resulting from illegal acts of third parties, such as computer fraud, wire transfer fraud, robbery/burglary and loss as a result of social engineering.

ERISA Fidelity Bond Coverage

If your company offers employee benefits subject to the Employee Retirement Income Security Act (ERISA), you are likely required to maintain an ERISA fidelity bond to protect your benefit plans against theft or other acts of dishonesty.

This coverage, which insures your benefit plans, is distinctly different from fiduciary liability coverage, which protects plan fiduciaries from claims by disgruntled participants and beneficiaries. Our experts can help you.

Kidnap and Ransom

Having the right insurance policy and crisis response firm becomes critical in a kidnapping or extortion event. Our expert kidnap and ransom team has years of experience handling all forms of kidnap, ransom, extortion and detention risks.

Our experts handle matters of critical importance with absolute confidence and confidentiality. We provide coverage for individuals, families and all types of corporate organizations, wherever you are. 

Coverage includes the following:

  • Kidnap
  • Extortion
  • Detention
  • Personal accident (as the result of an insured event)
  • Products extortion
  • Hijack
  • Loss of earnings
  • Repatriation

Errors & Omissions / Professional Liability

When a product or service allegedly fails and causes financial damage, your company may face a legal dispute. Lockton experts ensure you have the protection you need.

An errors and omissions or professional liability policy covers the defense and settlement expenses associated with professional services provided by a consultant, designer or professional (lawyer, healthcare worker, accountant, engineer, etc.) or other service providers. Such policies also cover products, including technology and other equipment.

Workplace Violence

Unfortunately, violent workplace events occur. And when they do, companies incur unexpected costs for crisis management consulting, temporary security, employee counseling and business interruption, among others. A workplace violence insurance policy exists to reimburse such costs. 

Specie & Fine Art

Lockton’s specie and fine art team has established mutual trust with the major insurance markets, enabling us to provide a knowledgeable and timely response to our clients.

Our reputation and relationships allow us to provide you with the most effective coverage at a cost that suits your business needs. Take advantage of our proven track record of fast and efficient placements. Our expertise caters to all lines of specie and fine art insurance.

Coverage includes the following:

  • Armored car/cash in transit
  • Bankers specie/shippers interest
  • ATM/ABM
  • Vault risks
  • Fine art collections
  • Bullion
  • Metals and minerals
  • In-bond merchants
  • Jewelers block
  • High-net-worth private clients
  • Museums and exhibitions
Discover more Insights & Publications  |  Read more in the Lockton Newsroom  |  See our Client Stories
Discover more Insights & Publications
Read more in the Lockton Newsroom
See our Client Stories