Arch Insurance Group Announces New Side A D&O Policy
Arch Insurance Group, a member of Arch Capital Group Ltd., announced a new, specialized management liability product in the U.S.:
“Our objective with this product is to expand the level of personal protection available to executives and board members in the instance when their company cannot or will not indemnify them” said Matthew Shulman, executive vice president, Executive Assurance Division at Arch.
“This new policy form responds as both a Lead Differences in Conditions (“DIC”) policy as well as an Excess Follow Form policy depending on the circumstances of the claim and underlying coverage.”
Coverage Highlights:
- Follow form Coverage
- Broad exhaustion language
- Follows important definitions of the Followed Policy
- Drop down coverage available when underlying carrier denies or rescinds coverage, is not liable or fails to pay, fails to respond or is insolvent (subject to specific policy terms and conditions).
- Coverage for punitive, exemplary or multiple damages
- Coverage for civil penalties
- Broadest coverage available in the most favorable jurisdiction
- Fully severable personal conduct exclusions with carve backs for defense costs and independent directors
- No Bodily Injury/Property Damage, ERISA, Pollution, Insured v. Insured or Prior Notice Exclusions
Source: Arch Insurance Group Inc.
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