Directors & Officers
Broad Form Side A D&O - No Exclusions (A Plus)
XL Group offers broad form Side A directors and officers coverage on a primary or excess difference-in-conditions (DIC) basis with no minimum attachment.
(Coverage provided for worldwide exposure)
Up to USD 50 Million
– No exclusions section
– Excess DIC coverage responds above directors and officers / company reimbursement policies
– Fully non-rescindable
– Application definition references publicly filed documents with the US Securities and Exchange Commission for 12 months prior to policy inception
– Full severability of application and conduct exclusions
– No separate arbitration proceeding to invoke conduct exclusions
– Non-cancelable except for non-payment of premium
– Advance of defense costs every three months or once they exceed USD 250,000
– Written notice of claims as soon as practicable after client's in-house general counsel or risk manager has knowledge of claim
– Full punitive damages coverage (no need to purchase an offshore wrap)
– Automatic outside directorship liability coverage on nonpublic for-profit entities (USD 5 million sub-limit applies)
– Automatic outside directorship liability coverage on nonprofit entities
– Investigation costs coverage
– Extradition costs coverage (USD 5 million sub-limit applies)
– No subrogation against individuals
Excess difference-in-conditions coverage responds in the event that underlying insurance rescinds coverage, cannot or will not pay, or does not pay solely because of a stay injunction order in connection with a bankruptcy proceeding.
Optional additional coverage features:
– Specific coverage for trustees, officers, directors or employees of insured’s employee benefit program
– Excess basis DIC coverage responds above directors and officers / company reimbursement and fiduciary liability policies
US public and private companies
This general product description is informational only. It is neither an offer to sell nor a solicitation to purchase any particular insurance product. Products are subject to legal and underwriting requirements. Coverages may not be available in all jurisdictions, including without limitation any jurisdiction within the United States, and may be available only through appropriately licensed producers. In addition, XL GAPS’s provision of publications or services is not an indication of the existence or availability under any policy of coverage for any particular property or type of loss or damage. Policies underwritten from Bermuda are only available through non US-based brokers. The Insurance companies of XL Group plc are: Greenwich Insurance Company, Indian Harbor Insurance Company, XL Insurance America, Inc., XL Specialty Insurance Company, XL Select Insurance Company, XL Insurance Company of New York Inc., XL Insurance (Bermuda) Ltd, XL Insurance Company Limited, XL Insurance Switzerland Ltd, XL Insurance (China) Company Limited, XL Insurance Argentina SA Compañia de Seguros and XL Insurance Mexico SA de CV. Coverages placed with Lloyd’s Syndicate #1209 are managed by XL London Market Ltd and supported by XL corporate members at Lloyd’s. Additional important information regarding our business is provided on our Legal Notices page.
James leads XL Group’s Complex Situational Insurance team. He focuses on the creation of novel solutions for complex and unique non-trad ...