Overview
Corporate governance reforms in the United
States in recent years have added significantly to the
responsibilities of executive and non-executive directors of public
companies. Directors understandably look for robust insurance
coverage to protect them in the execution of these
responsibilities.
With more than 20 years experience
underwriting D&O in the United States, Beazley is well equipped
to provide the coverage that directors and their companies
require. We are today the leading insurer of US D&O risks
in the London market.
The exposures faced by executives and company
board members can be personally and financially devastating.
Sophisticated internal controls and heightened levels of corporate
governance within the company are the first line of defense but in
a dynamic environment the unexpected can happen, and does.
Jim
Seymour explains the benefits of Beazley
Armour
Product benefits include automatic reinstatement of policy limits
for independent directors and innovative follow form
language.
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Details
Beazley differentiates itself by
employing a fully integrated approached to claims service. Our
claims managers are an integral part of the underwriting team,
allowing us to deal quickly with developing issues.
In addition, we empower our underwriters to
make decisions. Combined with the experience of the team, this
enables us to offer timely, yet considered responses to your
needs.
Beazley’s policy include the typical
provisions found in most directors & officers policies, and in
addition offers the following benefits:
- No panel counsel requirement
- Non-rescindable Side A coverage
- Securities entity coverage
- Order of payments
- Broad allocation language
- Coverage for derivative demands (costs of investigation)
- Non-profit outside directors liability coverage
- Punitive and multiple damages (where insurable by law)
- Domestic partner extension
- Final adjudication for fraud exclusions
- 25% acquisition threshold
Limits available
Up to US $10,000,000 primary or excess
Beazley Armour, our Side A policy form, offers
limits of up to US $15,000,000, with automatic reinstatement for
non-executive directors.
Target market
US publicly traded companies, excluding
financial institutions
Not all coverages or products described on
this website are available in all US jurisdictions. Some products
are available on an admitted basis in some but not all US
jurisdictions from Beazley’s US insurance company subsidiary, while
other products and coverages may be available in the US only on a
surplus lines basis through licensed surplus lines brokers doing
business with Beazley’s Lloyd’s of London syndicates.
The descriptions contained in these pages
are for preliminary informational purposes only. Coverages will
vary depending on individual state law requirements and may be
unavailable in some states. The exact coverage afforded by the
products described on this website is subject to and governed by
the terms and conditions of each policy issued. The
publication and delivery of the information contained herein is not
intended as a solicitation for the purchase of insurance on any US
risk.