Protecting your need to sustain a healthy business

Many private businesses don’t really understand what management liability risk is and the potential financial damage that even a single claim can cause.

Businesses and their management are increasingly exposed to Management Liability claims ranging from employment issues, such as harassment, discrimination and wrongful termination, to business practices issues, such as misappropriation, financial mismanagement and negligence. These threats include claims from employees, minority shareholders, regulators, creditors, environmental groups, competitors, customers and suppliers.

Horsell in conjunction with Chartis is pleased to offer you PrivateEdge® an essential 'all-in-one' tool set for protecting you and your business encompassing directors' and officers' liability, employment practices liability and fidelity insurance.

Quite simply, we are proud to offer you the easiest way to assist your client sustain a healthy business with comprehensive yet cost effective coverage.

What is innovative about this product?

Even when private companies do take out D&O insurance there are often gaps in that cover. Most D&O insurance is designed for public companies and does not cover claims against the company itself. With many private companies owned by directors and their families, this puts directors’ personal shareholdings at risk.

Private companies also face other risks that are not covered by D&O insurance – wrongful dismissal and sexual harassment, claims relating to the staff superannuation fund, crisis management costs etc. That’s a whole range of risks that need to be covered, which is why we offer PrivateEdge® – Management Liability Insurance for Private Companies.

PrivateEdge® - All-In-One

PrivateEdge® is a unique insurance policy – an all-in-one management liability solution specifically designed for private companies and their directors. It combines D&O cover tailored for the private company market with cover for a broad range of management liability exposures at an affordable price.

PrivateEdge® offers the security of top quality D&O cover plus Fidelity, Company, Employment, Investigation and Crisis cover.

PrivateEdge® Advisory Panel

Free Advice - PrivateEdge® Policyholders are entitled to contact a PrivateEdge Advisory Panel firm for advice on matters which are relevant to the cover provided under the policy. This service is provided free of charge, provided the advice does not involve a significant time commitment on the part of the member firm.

Claims Handling Service - if an Insured is unfortunate enough to have a claim made against them, speedy implementation of a good defence strategy is critical. The PrivateEdge Advisory Panel firms have been pre-approved to defend covered claims. In the absence of any conflict of interest, and provided that the member firm’s rates and other terms of engagement are reasonable, then consent to any PrivateEdge Advisory Panel firm acting on an Insured’s behalf will be granted without delay.

About Horsell Professional Risks

Horsell International Pty Ltd is one of Australia’s largest risk management and insurance broking intermediaries providing risk financing, insurance, risk management and claims management solutions.

As a member of the Wells Fargo Global Broker Network, we have the capacity to provide excellent local service delivery through more than 10,000 team members, operating from 330 offices across 70 countries with the capability and resources to provide insurance brokerage services in 115 countries around the world.


PrivateEdge suit of products include

Several variations to the PrivateEdge policy are available on HorsellOnline for instant quotation. Simply click on the links below to obtain a product profile.

PrivateEdge
Management Liability insurance for private companies.

AssociationEdge
Management and Professional Liability insurance for associations and other not for profit entities.

HospitalityEdge
Management Liability insurance for private, public unlisted companies or other incorporated entities in the hospitality industry.

Not For Profit Edge
Management Liability insurance for not-for-profits.

Partnership Edge
Management Liability insurance for professional partnerships.

Private Edge Lite
A less comprehensive PrivateEdge policy starting at a base premium of $350.

Policy Features:

Click on an item to find out more

  • Management Liability (also including Employment Liability) insurance for the Company plus its Executives, Employees and Outside Directors.
  • Special Excess Limit of $1,000,000 per Non-Executive Director (capped at an amount equivalent to the Limit of Liability) over and above the Limit of Liability for the unindemnified Loss of any Non-Executive Director. This is a protected limit for Non-Executive Directors. It works as a top-up limit and can even apply to ‘Related Claims’ involving one or more Insured Persons.
  • Company Liability Cover for a Management Liability Claim made against the Company. Unlike most other directors & officers liability (D&O) policies which were developed for public companies, PrivateEdge is designed to protect the directors’ personal shareholdings in their privately-held companies with this ‘entity’ Cover.
  • Fidelity Cover for the Company’s Direct Financial Loss due to Dishonest Acts committed after either the Continuity Date or the date from which the Company first purchased fidelity insurance (or any equivalent cover).
  • Crisis Loss and Publicity Extensions with separate sub-limits of $50,000 and $25,000 respectively for external crisis management services and a publicity campaign to prevent or mitigate damage to an Executive’s reputation.
  • Discovery Period for Retired Insured Persons Extension at no additional premium. This is a run-off period of 84 months (if the policy is neither renewed nor replaced with similar cover at the expiry of the Policy Period) for any Insured Person who retires after the Continuity date and prior to the expiry of the Policy Period or any Transaction.
  • Fraud Investigator’s Costs Extension for the investigation, proof and reporting of Direct Financial Loss.
  • Investigation Costs are included as “Loss” regardless of any Management Liability. This is important because the purpose of an investigation may be to establish whether or not there has actually been any wrong-doing by the Company or its Executives. A person may be involved in an investigation simply because of the position they hold with an organization and at the time of the investigation there may be no actual or alleged Wrongful Act which could lead to a Management Liability.
  • OH&S Defence Costs and Investigation Costs for the Company and any Insured Person, with a $500,000 sub-limit for the Company and a full Limit of Liability for any Insured Person.
  • Pecuniary Penalties Extension with a $250,000 sub-limit for pecuniary penalties awarded against an Executive in Australia or New Zealand, payable unless legally prohibited.
  • Pollution Defence Costs and Investigation Costs for any Insured Person, with a full Limit of Liability for any Insured Person and a $500,000 sub-limit for “Reimbursement” Cover.
  • Bilateral Discovery Period of 30 days at no additional premium or, in the case of any Claims, 12 Months for 100% of the expiring premium (if the policy is neither renewed nor replaced with similar cover).
  • Controlling Shareholders who are also Executives are considered solely in their Executive capacity for cover for a Wrongful Act.
  • Defence Cost Advancement is linked to a Condition that promises in broad and open language that we "may not refuse to advance Defence Costs" if we consider that fraud or dishonesty has occurred, until there is an admission, or, judgment, award or other finding by a court, tribunal or arbitrator.
  • Heirs and Legal Representatives and Spouses are covered for the Management Liability of Insured Persons as if they were such Insured Persons.
  • New Companies becoming Subsidiaries after the policy inception are automatically covered if their revenues are no larger than the Policyholder’s.
  • PrivateEdge Advisory Panel offers free advice (provided it does not involve a significant time commitment by the firm) on corporate governance issues or matters relevant to the policy cover. We consent to the appointment of any of these firms to act for Insureds on a Claim subject to the "Claims" Conditions and to agreement that the rates and terms of engagement are reasonable.
  • Superannuation Trustees are covered for any fiduciary capacity of an Executive owed to any Company employee benefits plan, pension plan or superannuation fund.