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Coverage
- Policy contains no Exclusions section
- On an excess basis, difference in conditions coverage responds above D&O/Co Re policies
- Policy is fully non-rescindable
- Application definition references publicly filed documents with the SEC for 12 months prior to policy inception
- Full severability of the application and conduct exclusions
- No separate arbitration proceeding can be undertaken to invoke the conduct exclusions
- Non-cancellable except for non-payment of premium
- Advancement of defense costs every 3 months or once they exceed $250,000
- Written notice of claims as soon as practicable after the client's in-house General Counsel or Risk Manager has knowledge of the claim
- Full punitive damages cover (no need to purchase an off-shore wrap)
- Automatic ODL cover on non-public for-profit entities ($5 million sub-limit applies)
- Automatic ODL cover on non-profit entities
- Investigation costs cover
- Extradition costs cover ($5 million sub-limit applies)
- No subrogation against individuals
On an excess basis, difference in conditions coverage responds in the event the underlying insurance:
- Rescinds cover
- Cannot or will not pay
- 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 an employee benefit program of the Insured
- On an excess basis, difference in conditions coverage responds above D&O/Co Re and Fiduciary Liability policies
CLIENT PROFILE
No restrictions
Geographic Focus
US publicly traded and private companies
Typical Limits
Up to $50 million
Including but not limited to:
01 - Agricultural Production - Crops
02 - Agricultural Production - Livestock and Animal Specialties
07 - Agricultural Services
08 - Forestry
09 - Fishing, Hunting and Trapping
10 - Metal Mining
12 - Coal Mining
13 - Oil and Gas Extraction
14 - Mining and Quarrying of Nonmetallic Minerals, Except Fuels
15 - Construction - General Contractors & Operative Builders
16 - Heavy Construction, Except Building Construction, Contractor
17 - Construction - Special Trade Contractors
20 - Food and Kindred Products
21 - Tobacco Products
22 - Textile Mill Products
23 - Apparel, Finished Products from Fabrics & Similar Materials
24 - Lumber and Wood Products, Except Furniture
25 - Furniture and Fixtures
26 - Paper and Allied Products
27 - Printing, Publishing and Allied Industries
28 - Chemicals and Allied Products
29 - Petroleum Refining and Related Industries
30 - Rubber and Miscellaneous Plastic Products
31 - Leather and Leather Products
32 - Stone, Clay, Glass, and Concrete Products
33 - Primary Metal Industries
34 - Fabricated Metal Products
35 - Industrial and Commercial Machinery and Computer Equipment
36 - Electronic & Other Electrical Equipment & Components
37 - Transportation Equipment
38 - Measuring, Photographic, Medical, & Optical Goods, & Clocks
39 - Miscellaneous Manufacturing Industries
40 - Railroad Transportation
41 - Local & Suburban Transit & Interurban Highway Transportation
42 - Motor Freight Transportation
43 - United States Postal Service
44 - Water Transportation
45 - Transportation by Air
46 - Pipelines, Except Natural Gas
47 - Transportation Services
48 - Communications
49 - Electric, Gas and Sanitary Services
50 - Wholesale Trade - Durable Goods
51 - Wholesale Trade - Nondurable Goods
52 - Building Materials, Hardware, Garden Supplies & Mobile Homes
53 - General Merchandise Stores
54 - Food Stores
55 - Automotive Dealers and Gasoline Service Stations
56 - Apparel and Accessory Stores
57 - Home Furniture, Furnishings and Equipment Stores
58 - Eating and Drinking Places
59 - Miscellaneous Retail
60 - Depository Institutions
61 - Nondepository Credit Institutions
62 - Security & Commodity Brokers, Dealers, Exchanges & Services
63 - Insurance Carriers
64 - Insurance Agents, Brokers and Service
65 - Real Estate
67 - Holding and Other Investment Offices
70 - Hotels, Rooming Houses, Camps, and Other Lodging Places
72 - Personal Services
73 - Business Services
75 - Automotive Repair, Services and Parking
76 - Miscellaneous Repair Services
78 - Motion Pictures
79 - Amusement and Recreation Services
80 - Health Services
81 - Legal Services
82 - Educational Services
83 - Social Services
84 - Museums, Art Galleries and Botanical and Zoological Gardens
86 - Membership Organizations
87 - Engineering, Accounting, Research, and Management Services
88 - Private Households
89 - Services, Not Elsewhere Classified
91 - Executive, Legislative & General Government, Except Finance
92 - Justice, Public Order and Safety
93 - Public Finance, Taxation and Monetary Policy
94 - Administration of Human Resource Programs
95 - Administration of Environmental Quality and Housing Programs
96 - Administration of Economic Programs
97 - National Security and International Affairs
99 - Nonclassifiable Establishments
Disclaimer
This general product description is informational only. It is neither an offer to sell nor a solicitation to purchase any particular insurance product. Coverages may not be available in all jurisdictions, including without limitation any jurisdictions within the United States, and may be available only through appropriately licensed producers. Note: Products subject to legal and underwriting requirements. Specific product availability varies by global jurisdiction.
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