Commercial Insurance

The decisions made by the boards of privately owned companies are not immune from public scrutiny. As leaders of the company, your directors and officers can be held personally liable for their management decisions. Shareholders, employees, customers, suppliers, competitors, and even the government can sue a privately owned company and its board. Designed specifically for directors and officers of smaller, privately held companies, this policy gives you flexible coverage tailored to your specific needs.

Directors & Officers (D&O) and Entity Liability

• Broad definition of Insured includes the parent organization, subsidiaries, directors, or officers, including foreign equivalents, members of advisory boards, board of managers and management committees, employees, and volunteers worldwide
• Automatic not-for-profit outside directorship coverage for insured persons
• $500,000 sublimit for security holder derivative demand evaluations cost coverage
• Optional additional $500,000 Side A dedicated limit for executives
• Broad definition of Claim for insured persons includes:
  • Written demands for monetary or non-monetary relief
  • Civil and criminal proceedings
  • Formal regulatory, administrative, and arbitration proceedings
  • Requests for extradition
  • Side A subpoena defense costs coverage
• Definition of Claim for organization includes normal administrative or regulatory proceedings when named as codefendant with insured persons
• Civil fines and civil penalties coverage where insurable for insured persons, including Foreign Corrupt Practices Act (FCPA) civil penalties
• Streamlined insured v. insured exclusion includes exceptions for financial impairment, former executives after one year, claims brought outside the United States and Canada, whistleblower and employment claims against insured persons, and non-executive employee shareholder claims
• Conduct exclusions include final non-appealable adjudication language
• Private placement and failed Initial Public Offering (IPO) coverage
• Provides a full Side A carve back to the pollution exclusion
• Guaranteed IPO quotation, including coverage for road show presentations