American Society of Association Executives (ASAE)

Application/Specimen Policy
Product Sheet
Claims Examples

Standard-setting organizations have significant areas of risk that may not be insured under ordinary general liability, directors and officers liability or association professional liability policies. AXIS PRO® and the ASAE have combined their expertise to design specialty E&O liability coverage that responds to the insurance needs of organizations involved in setting standards, specifications and related activities (certification, accreditation, continuing education, consulting services or related publication services).

Coverage features

• First-party data security coverage available to reimburse costs associated with responding to a data breach (optional by endorsement)
• First-party data security coverage available to reimburse costs associated with responding to a data breach (optional by endorsement)
• Blanket liability coverage for associations’ websites
• Coverage for personal injury liability exposures
• Defense against allegations of unfair or deceptive trade practices
• Punitive damages coverage with provisions for most favorable venue where allowed by law
• Favorable consent to settle clause giving insured more control over settlement
• Coverage for innocent insureds for conduct of rogue employees
• Spousal coverage
• Worldwide coverage regardless of where claim is brought

Coverage enhancements

• New, three-part Insuring Agreement for Professional Liability, Content Liability and Security/Privacy Liability
• Expanded definition of services to include: a) the administration of member services and b) Internet media services
• Definition of Matter greatly expanded to include social media venues plus Advertising services
• New sublimited coverages for: Claim Attendance Expenses, Regulatory Proceedings and Insured’s Claim Attendance Expenses
• Technology Services coverage available by endorsement