Directors and Officers have accountability to investors and shareholders. This means personal asset exposure when expectations are not met. The company itself is also exposed.
If a shareholder sues your CFO and senior management for breach of fiduciary duties, a tailored Directors and Officers (D&O) Liability product can help indemnify and protect the personal assets of individuals agreeing to serve. The right D&O product can give a high growth company’s management and board members the confidence to take strategic risks that can be essential to support growth goals.
Directors and Officers (D&O) Liability is the foundation of our Management Liability solutions, and our success is a direct result of innovation and partnerships with carriers and clients. We’ve quickly become one of the most trusted digital D&O brokerages for high growth businesses.
Our proprietary technology, risk assessment and benchmarking expertise help high growth companies determine the “right” solution for directors, officers and their businesses. Our tailored solutions are designed to keep pace with changing exposures, and an evolving Directors and Officers (D&O) market.
Typical coverage enhancements include:
- Broad coverage for non-indemnifiable (“Side A”) and corporate reimbursement claims
- Separate limits provided for the D&O, EPLI, and Fiduciary coverage sections
- Payment for Non-Indemnifiable (“Side A”) claims are prioritized before corporate reimbursement claims
- Additional $1M limit of liability for non-indemnifiable “Side A” claims
- Fully non-rescindable policy
- Fully non-cancelable policy (except for non-payment of premium)
- Pro-rata return of premium if the insured elects to cancel
- Full individual severability for representations and warranties made in the application as well as all the applicability of all exclusions
- Limited individuals whose knowledge and actions impute to the insured entities’ available coverage
- The “Conduct” and “Personal Profit” exclusions are crafted with “final adjudication in any underlying action” language
- Coverage for all employed lawyers
- Insured’s discretion to settle any claim within the retention without the Insurer’s prior consent
- Outside directorship liability Coverage - Coverage for individuals while acting as a Director and/or Officer of an outside (for profit or non-profit) entity
- Insured’s “duty to defend policy” with the option to tender any claim to the Insurer.
- No “Hammer Clause” – giving the insured full discretion on whether to continue defending or settle a lawsuit
- 120-day post policy reporting window
- 100% coverage for defense costs spent defending both covered and uncovered matters
- Automatic coverage for all acquisitions
- Coverage for Derivative Investigations Costs
- The Insurer in not permitted to subrogate against any Insured
- Extended coverage for spouses and domestic partners