Directors & Officers

Cover

Cover provides defence costs and indemnity in the event of litigation or investigations against individual D&O's

and;

Security Actions against D&O's and the company.

Coverage includes:

• Damages, judgements and settlements
• Legal fees and expenses
• Regulatory investigations
• Securities Claims
• Derivative Suits
• Security Holder Demand Investigatory Costs
• Extradition Proceedings

Cover

If a company does not indemnify, this policy responds to provide Directors and Officers the cover they need. Unlike other D&O policies, Side A DIC policies have no coverage exclusions apart from conduct matters.

• Excess cover if limits on the primary D&O cover have been exhausted. The Side A DIC policy responds by paying Side A shortfalls subject to any agreed terms, conditions and limitations in the primary policy or

• On a drop-down basis when an insurer of the primary D&O cover refuses to pay a claim or fails to pay within an agreed time frame of a request to do so. There are a number of examples where a reason for not payment could require Side-A policy to respond including
  • An application of exclusion
  • An insurer has become insolvent
  • Unnecessarily incurred defence costs
  • Late notification of a claim