The new ExecPro A-Side Protection Policy is designed to offer broad coverage provisions to:
private and publicly traded for-profit commercial businesses, financial institutions, and non-profit
organizations. Limits up to $25 million are available for excess protection against non-indemnifiable claims.
The ExecPro A-Side Protection Policy provides follow-form excess coverage
for non-indemnifiable loss of Insured Persons.
In addition, the policy provides non-follow-form Difference in Condition (DIC) coverage,
on a non-rescindable basis, if the primary or other underlying excess carrier:
- files for or intends to rescind coverage; or
- wrongfully refuses to indemnify an Insured Person; or
- is financially unable to indemnify an Insured
Person; or
- is not liable for the loss and claim
DIC Coverage Highlights
- Claim includes regulatory investigation of an Insured Person
- Insured Persons include directors, officers and management committee
and board members of joint ventures and LLCs.
- Separate coverage determination for each Insured Person
- Personal profit/fraud exclusion separately applied to each Insured Person
- No ERISA exclusion
- Outside directorship coverage for not-for-profit entities
- Worldwide coverage provision
- Non-rescindable policy
|
