Product Highlights

• Claim is defined as demands for monetary and non-monetary relief; civil or criminal proceedings for monetary and non-monetary relief against directors and officers and/or the entity; administrative or regulatory proceedings for monetary or non-monetary relief against directors and officers when commenced by receipt of a notice of charges; and civil, criminal, administrative or regulatory investigations of directors and officers.
• There is no stipulation of counsel by Insurer - Insured selects counsel.
• Personal profit and fraud exclusions applicable only against an Insured whose criminal or fraudulent act is established by:
  • An admission of such Insured evidenced in written form; or
  • A judgment, final adjudication or alternative dispute resolution proceeding.
• Punitive damages are covered where insurable except for employment-related claims. Insurer shall not challenge determination of insurability.
• Application is severable with respect to the individual directors and officers.
• Insured vs. Insured exclusion does not apply to: claims by any directors or officers who have not served with, been employed by or provided consultation to the company for at least 5 years prior to date of claim; claims by receivers, conservators, liquidators, trustees, examiners or rehabilitators; wrongful termination, discrimination, and harassment claims brought by officers who are not directors.