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Commercial Insurance
Directors & Officers
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:: INSURANCE HIGHLIGHTS
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