The CHART Exchange announces another new initiative being launched for the benefit of agencies doing business with Lloyd’s – the CHART Defender. This innovative Errors and Omissions (E&O) product is underwritten by Certain Underwriters at Lloyd’s and was designed by Rockwood Programs, a Lloyd’s Coverholder and CHART Exchange member, to address the unique professional liability exposures that Coverholders face.
Not only is this program beneficial to existing and potential Coverholders alike, it proves the basic concept of the CHART Exchange. “We wanted to use the CHART Exchange platform and resources to develop, market and complete a new facility in Lloyds for the US Coverholder community.” said Mark Lann, EVP of Rockwood Programs and Program Manager for CHART Defender.
“We worked with our CHARTassigned broker to develop a program from the ground-up, then utilized CHART member Wilson Elser Moskowitz Edelman & Dicker, LLP for loss control and claims management. We are also providing a substantial discount to agencies using Net Rate’s (a CHART Preferred Vendor) agency management software. This new facility shows the ability of CHART’s Members, Brokers and Vendor partners ability to work together to get the job done.”
SOME OF THE UNIQUE FEATURES OF THIS NEW PRODUCT OFFERING:
The product has been called the CHART Defender to underscore the most important differentiating factor of this E&O offering: policyholders will know in advance who will serve as their advocate in the event of a loss.
CHART Defender’s claims administrator is Wilson Elser, a nationally recognized “Top 50” law firm with over 800 attorneys in 31 offices across the United States and in London. Wilson Elser has exceptional experience in aggressively and professionally handling litigation and other proceedings so that our insureds get the most effective defense possible.
Agencies securing their E&O coverage through the CHART Defender will also have access to Wilson Elser to assist them in establishing sound business practices within their firm. A proprietary risk mitigation hotline will be available to our policyholders. This facility will be staffed by legal experts who can provide assistance on potential problems before they become claims. This hotline feature is free to our insureds.
The CHART Defender E&O program is open for business now. The product is being administered by Rockwood Brokerage – a division of Rockwood Programs. Firms interested in learning more about CHART Defender, the process of getting a program completed in Lloyd’s and becoming a Lloyd’s Coverholder or membership in the Chart Exchange can contact Mark Lann at 305-248- 9495, via e-mail at firstname.lastname@example.org or on Rockwood Brokerage’s website – www.rockwoodbrokerage.com/chartdefender.html