One80 Intermediaries Offers Liability Insurance for Chief Restructuring Officers
2024年6月18日 - 9:00PM
ビジネスワイヤ(英語)
The policy covers gaps between the distressed
company’s insurance and that of their Chief Restructuring
Officer.
One80 Intermediaries (One80), a specialty insurance broker
headquartered in Boston, today announced the launch of its Chief
Restructuring Officer Liability Insurance.
One80’s Private Equity and Transactional Liability Practice,
along with its two highly rated carrier partners, have created a
comprehensive insurance policy tailored to Chief Restructuring
Officers (CROs), and their teams, as they work with distressed
companies across a variety of industry classes. The policy offers
limits of liability up to $30M and covers the restructuring firm as
an additional insured.
CROs are typically responsible for the restructuring process of
a distressed company, which allows the management team to focus on
day-to-day operations. One80 protects the CRO and their team -
given they may lack comprehensive coverage or are subject to high
deductibles. Further the directors and officers policy limit for
the distressed company is often exhausted and therefore will not
cover the CRO.
“One80 is committed to providing highly specialized insurance
solutions to executives and senior leaders across all industry
classes,” said Matthew F. Power, President, One80 Intermediaries.
“I am very proud of our Private Equity and Transactional Liability
practice as they remain at the forefront of market intelligence and
innovation, allowing us to provide our brokers and clients with
best-in-class solutions,” he continued.
“The role of the CRO is not without significant risk given that
by definition, the CRO is hired when a company is in distress. At
One80 we understand the risks associated with this role and are
excited to provide comprehensive coverage to address this gap in
the market,” said Jonathan Legge, Senior Managing Director, One80
Intermediaries.
About One80 Intermediaries One80 Intermediaries is a
privately held firm with offices throughout the US and Canada. As a
leading insurance wholesaler and program manager, the company
offers placement services and binding authority for property &
casualty, professional and personal lines, life insurance, and
travel/accident and health coverages. One80 specializes in key
industry verticals such as medical stop loss, cannabis captives,
alternative risk, warranty coverage and lender-based insurance.
One80 serves commercial companies, non-profits, public entities,
individuals and associations and unions, and has access to all
major insurance markets in the US, Canada, and UK. One80 has
offices in more than 40 locations in the US and Canada. For more
information visit www.one80intermediaries.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240618185907/en/
Media: Lenika P. Milne lmilne@one80intermediaries.com (786)
865-4614