- Management legal responsibility package deal consists of Directors & Officers, Employment Practices Liability, and Fiduciary protection supplied immediately on-line
NEW YORK–(BUSINESS WIRE)–August 3, 2020–
CoverWallet, an Aon firm and a number one digital insurance coverage platform for companies, right this moment introduced a brand new digital insurance coverage product for enterprise capital (VC)-backed startups. With this new administration legal responsibility package deal, VC-backed startups can immediately purchase and handle Directors & Officers insurance coverage (D&O), Employment Practices legal responsibility (EPL), and Fiduciary protection on-line.
This press launch options multimedia. View the complete launch right here: https://www.businesswire.com/news/home/20200803005064/en/
(Graphic: Business Wire)
The administration legal responsibility package deal is designed for firms from Seed via Series C and provides to the insurance coverage insurance policies already out there via CoverStartups, a devoted platform for high-growth firms. Based on a proprietary algorithm that assigns a Rating Factor utilizing a VC’s previous efficiency, the product categorizes buyers into tiers primarily based on their monitor information and due diligence processes. For startups, the result’s a shorter software course of and extra exact protection to guard in opposition to their dangers.
“After launching CoverStartups two years ago, we saw the need for a better insurance experience and product for high-growth startups when it came to management liability, and especially D&O coverage,” mentioned Inaki Berenguer, CEO and co-founder of CoverWallet. “By continuing to take a customer-centric approach and harnessing new datasets, CoverWallet is able to deliver startups a faster, simpler and more convenient experience for buying and managing insurance.”
The administration legal responsibility providing, which was developed in collaboration with Boost, is absolutely admitted, which implies it’s licensed by state insurance coverage commissioners. Management legal responsibility builds on CowlStartups’ current insurance coverage choices that embrace General Liability, Worker’s Compensation, Errors & Omissions, Cyber Liability, Commercial Property and Professional Liability, enabling startups to purchase and handle their insurance coverage multi function place.
The administration legal responsibility package deal additionally consists of:
- Access to a seamless on-line platform to handle insurance coverage effectively
- The potential to pay in month-to-month installments or in full
- A devoted crew that focuses on insurance coverage for progress firms to reply any questions
- Broad Subsidiary language, which permits for protection to use to subsidiary companies
- Coverage for Employee Stock Ownership Plans (ESOPs), that are key to founders and workers
For extra data, please go to www.coverstartups.com.
About CoverWallet, an Aon firm
CoverWallet, an Aon firm, is devoted to creating business insurance coverage easy, quick and handy. With main carriers as companions, CoverWallet helps clients around the globe shortly get the insurance coverage protection they want in order that they will get again to what issues – rising and managing their enterprise. Powered by deep analytics, considerate design and state-of-the-art expertise, CoverWallet is reinventing the $200 billion business insurance coverage marketplace for small and medium-sized companies.
Aon plc (NYSE:AON) is a number one world skilled providers agency offering a broad vary of threat, retirement and well being options. Our 50,000 colleagues in 120 international locations empower outcomes for purchasers through the use of proprietary knowledge and analytics to ship insights that cut back volatility and enhance efficiency.
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