What we offer

Our suite of policies range from a single policy to cover the organisation and its directors, through to policies addressing the specific needs of individuals and includes:

  • Side ABC
  • Side AB
  • Side A
  • Side A DIC

How can we help

D&O Side ABC
This Side ABC policy is the most comprehensive policy and covers the personal liability of the insured individual, the company’s liabilities when it indemnifies the individual and the company if faced with securities claims.

Cover

Protection for directors and officers, as well as other individuals, including coverage for:

  • Regulatory and internal investigations
  • Data breach
  • Environmental claims
  • Health and safety claims
  • Insolvency hearings
  • Extradition, permanent residency and repatriation
  • Damage to reputation
  • Freezing of assets and disqualification
  • Full limit mitigation costs cover
  • Automatic reinstatement of limit for non-indemnifiable loss

Protection for the company, including costs relating to:

  • Payments made to indemnify individuals
  • Securities claims
  • Regulatory and internal investigations
  • Books and records demands
  • Derivative demands
  • Global Dutch securities settlement advice. 

D&O Side AB

This cover is for individuals and organisations, whether private or public, that require the protection of a Side AB policy but not the securities-related cover for the company provided by Side C.

Cover

Protection for directors and officers, as well as other individuals, including coverage for:

  • Regulatory and internal investigations
  • Data breach
  • Environmental claims
  • Health and safety claims
  • Insolvency hearings
  • Extradition, permanent residency and repatriation
  • Damage to reputation
  • Freezing of assets and disqualification
  • Full limit mitigation costs cover
  • 75% allocation for securities claims for public companies
  • Automatic reinstatement of limit for non-indemnifiable loss.

Protection for the company, for costs relating to payments made to indemnify individuals. 

D&O Side A

This policy provides “ground up” cover for individual directors and officers when the company does not indemnify.

One of the key benefits to the individual is that they do not share policy limits with the organisation so avoid the risk of limits being depleted by the organisation’s insured losses.

Cover

  • Regulatory and internal investigations
  • Data breach
  • Environmental claims
  • Health and safety claims
  • Insolvency hearings
  • Extradition, permanent residency and repatriation
  • Damage to reputation
  • Freezing of assets and disqualification
  • Full limit mitigation costs cover
  • Reinstatement of full limit for those individuals who have not been party to a previous claim that has depleted the limit. 

D&O Side A Difference In Conditions (DIC)
This policy provides cover for individual directors and officers when the company does not indemnify. The policy responds:

  • As excess cover when limits on the primary/underlying D&O cover have been exhausted. In this case the Side A DIC policy can pay shortfalls subject to any terms, conditions and limitations in the primary / underlying D&O policies; or
  • On a DIC / drop-down basis when an insurer of the primary/underlying D&O cover refuses to pay a claim or fails to pay within 45 days of a request to do so. Examples of reasons for non-payment include:
  • Insolvency of the insurer
  • Application of an exclusion
  • Allegation that defence costs were incurred unnecessarily
  • Late notification of a claim (provided that notification on the Side A DIC policy is made as soon as practicable).

The benefit of a Side A DIC policy is that, unlike other D&O policies, there are no coverage exclusions other than in relation to matters of conduct.

The policy provides 3 full reinstatements of the limit.

Who we can help

A wide range of non-financial organisations can benefit from the cover. 

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Where Is This Offered?

Worldwide (excluding United States domiciled organisations) 

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The Beazley Difference

BEING BOLD

Freedom lies in being bold. We dare to be different and seek bold possibilities to create more innovative, fair and satisfying outcomes for our clients, brokers and employees. From insuring the highest building in the world, to the first commercial lunar vehicle to operate on the moon - we boldly go where others won’t.

STRIVING FOR BETTER

Good is a start, but we go all-out for better.  A driven community of individuals relentlessly push the needle and creating value. From launching the market’s first dedicated ESG syndicate to the establishment of our business unit focusing on designing digital insurance solutions, we pride ourselves on always going above and beyond.  Simply put, at  Beazley we go to 11.  

DOING THE RIGHT THING

Acting with integrity in a straightforward, decent way is instinctive. Open and honest with others, we show respect and empathy however challenging the situation – demonstrated by our multi-award winning claims team.  Doing the right thing makes for a fair-minded, rewarding environment and makes work and life better for all.

Examples or Scenarios

A former CEO started proceedings against a company for breach of contract, seeking to recover amounts said to be owed including bonus and share entitlements. The company counterclaimed alleging breach of fiduciary duties by failing to: (a) make reasonable business decisions; (b) return confidential information; (c) act in a manner which maximised the value of the company; and (d) exercise due care and skill. The counterclaim sought multimillion-pound damages and the former CEO incurred defence costs in excess of £1m. The director was financially protected under a D&O Side A ground up policy.  

 
A listed technology company was bought by a larger rival in a multibillion-pound deal. After the deal closed, the acquiring company issued proceedings against the directors of the acquired entity alleging accounting improprieties, misrepresentations and disclosure failures that inflated its underlying financial metrics prior to acquisition. The UK and US law enforcement agencies and regulators started investigations. As the purchase had been concluded and the dispute involved the new parent, an indemnity was not provided to the directors. However, the Side A of the D&O policy provided coverage for the individuals’ defence costs.

Your Beazley Team

 
 

Oliver Wheeler

Oliver Wheeler
Underwriters

Oliver Wheeler

Underwriter - International Management Liability

London, UK

+44 20 7674 8028 Email Oliver Wheeler View profile

Emma Pereira

Emma Pereira
Underwriters

Emma Pereira

Product Leader: International Management Liability

London, UK

+44 20 7674 7159 Email Emma Pereira View profile

Jo Ghaly

Jo Hayward
Underwriters

Jo Ghaly

Underwriter - International Management Liability

London, UK

+44 20 7674 7022 Email Jo Ghaly View profile

Karolina Sokolowska

Karolina Sokolowska
Underwriters

Karolina Sokolowska

Underwriter - International Management Liability

London, UK

+44 20 7674 7887 Email Karolina Sokolowska View profile

Chloe Cox

Chloe Cox
Underwriters

Chloe Cox

Underwriter - International Management Liability

London, UK

+44 7568 157941 Email Chloe Cox View profile

Steve Jennings

Steve Jennings
Underwriters

Steve Jennings

Underwriter – International Management Liability

London, UK

+44 20 7667 0698 Email Steve Jennings View profile

Rory Burling

Rory Burling
Underwriters

Rory Burling

Underwriter - Specialty Lines – International Management Liability

London, UK

+44 20 7674 7520 Email Rory Burling View profile

Mike Parry

Mike Parry
Underwriters

Mike Parry

Underwriter - International Management Liability

London, UK

+44 20 7674 7243 Email Mike Parry View profile