ASAE-Endorsed Business Solutions, a managed business line of ASAE Business Services, Inc., announces several enhancements to the ASAE-endorsed Errors & Omissions (E&O) policy provided by AXIS PRO, which includes: liability protections for association's cyber activities, network security, and advertising services.
WASHINGTON—ASAE-Endorsed Business Solutions, a managed business line of ASAE Business Services, Inc., announces several enhancements to the ASAE-endorsed Errors & Omissions (E&O) policy provided by AXIS PRO, which includes: liability protections for association's cyber activities, network security, and advertising services.
Spurred by the increase in social media and data security claims, AXIS PRO has enhanced the ASAE-endorsed policy by adding protection against liability risks arising from network security and privacy breaches. The coverage already includes safeguards for libel, slander, copyright infringement, plagiarism, and errors and omissions occurring in the performance of specification, accreditation, and certification activities.
"AXIS PRO understands that associations face distinctive risk exposures, and they've designed a state-of-the-art Errors & Omissions policy that is specifically tailored to fit the unique needs and operational models of associations," said Dixie L. Arthur, president of ASAE Business Services.
The new and expanded coverage offers greater flexibility, including:
- Three-part insuring agreement for professional, content, and network security/privacy liability;
- Expanded definition of services including the administration of member services and Internet media services;
- Definition of "Matter" expanded to include social media venues plus advertising services;
- Technology services coverage available by endorsement;
- Association volunteers will be automatically covered by the policy with the option of this feature to be removed at the insured's request or the underwriter's discretion.
Associations can sponsor this coverage to their own members to create an affinity program to provide a member benefit and potentially generate non-dues revenue for their organizations.
To learn more about the AXIS PRO professional liability program, visit www.asaecenter.org/EandOInsurance.
The ASAE-endorsed E&O specimen policy and application are available at http://www.axisproinsurance.com/programs/asae_applications.asp.
MEDIA CONTACT: Sabrina Kidwai, [email protected], 202-326-9505.
About ASAE: The Center for Association Leadership
ASAE is a membership organization of more than 21,000 association executives and industry partners representing 10,000 organizations. Its members manage leading trade associations, individual membership societies and voluntary organizations across the United States and in nearly 50 countries around the world. With support of the ASAE Foundation, a separate nonprofit entity, ASAE is the premier source of learning, knowledge and future-oriented research for the association and nonprofit profession, and provides resources, education, ideas and advocacy to enhance the power and performance of the association and nonprofit community. For more information about ASAE, visit www.asaecenter.org.
About ASAE Business Services, Inc.
ASAE Business Services Inc., ASAE's wholly owned subsidiary, manages several lines of business for ASAE and develops new programs and solutions to meet associations' business needs. Business lines include ASAE CareerHQ.org, ASAE-Endorsed Business Solutions, ASAE Insurance Company, and the fiduciary investor program. For more information about ASAE Business Services, please visit www.asaecenter.org/BusinessServices.
About AXIS PRO Insurance
AXIS PRO is a business unit of the Professional Lines Division of AXIS Insurance. AXIS is a leading provider of specialty lines insurance and reinsurance globally through its operating subsidiaries and branch offices in Bermuda, the United States, Canada, Europe, Australia and Singapore. Policies are backed by the exceptional financial strength and solid claims-paying ability of the AXIS insurance companies, rated "A+" (Strong) by Standard and Poor's and "A" (Excellent) XV by A.M. Best. For more information about AXIS Capital, visit our website at www.axiscapital.com.