Any actual or alleged act,
error or omission, misstatement,
misleading statement, or
breach of fiduciary duty
or other duty by an Insured
Person in his or her capacity
as an Insured Person
Any
Employment Practices Wrongful
Act by an Insured Person.
Any
Securities Activity Wrongful
Act
Any
Employment Practices Wrongful
Act, Securities Activity
Wrongful Act.by the Company
(as long as entity coverage
has been purchased).
Any actual or alleged act,
error or omission, misstatement,
misleading statement, or
breach of fiduciary duty
or other duty committed
by an Insured in rendering,
or in failing to render,
Professional Services.
Definition
of Securities Activity Wrongful
Act
Any actual or alleged violation
of the Investment Co. Act
of 1940, Securities Act
of 1933, Securities and
Exchange Act of 1934.
n/a
Definition
of Employment Practices Wrongful
Act
Wrongful Termination, demotion
of or failure or refusal
to hire or promote; discrimination;
workplace harassment; retaliatory
treatment; negligent evaluation;
breach of implied contract
or agreement arising out
of personnel manual.
n/a
Definition
of Professional Service
n/a
Advice given or services
performed for others by
the Company or by any Outside
Service Provider on behalf
of the Company in connection
with the Company's financial
investment operations.
Professional Services includes
Professional Supervision,
the provision of computer
and Internet services, administrative
services and publications
prepared or written by any
Insured, provided such services
are rendered in connection
with the Company's financial
or investment operations.
Definition
of Professional Supervision
n/a
Insured's selection of an
Outside Service Provider
and its oversight and direction
of the performance o such
Outside Service Provider
in providing Professional
Services.
The above EO vs DO comparision:
Directors & Officers Liability Insurance is often
confused with Errors and Omissions insurance. The two
are not synonymous; Errors & Omissions is concerned
with performance failures and negligence with respect
to your products and services. Directors and Officers
Insurance is corned with the performance and duties of
management. Generally it is a good idea to carry both
Directors
& Officers Liability Insurance and Errors
and omissions insurance
