Directors and Officers Excess Side A DIC PROtect℠

Our Side A Directors and Officers Liability Insurance policy provides broad protection for directors and officers of public, private and non-profit organizations for non-indemnifiable claims and Difference in Conditions (DIC) coverage.

Coverage Highlights

• Seamless follow form, only two exclusions: Conduct and Bodily Injury Property Damage (BIPD)

• Broad DIC provision:

1) Wrongful failure to indemnify

2) Fails to advance defense costs in 60 days

3) Underlying insurance financially unable to pay

4) Underlying insurance threatens to rescind

5) Underlying insurance is subject to a bankruptcy stay

• Two reinstatements included: If Argo Pro pays the full limit on a claim and there’s a new, unrelated claim in the same policy period, you get a fresh limit regarding the latter

• Argo Pro will make the payment if the underlying insurer does not provide this (Side A DIC coverage only)

• Broad definition of Insured includes estates, heirs, legal representatives, spouses and domestic partners. Additionally general partners, managing partner or functionally equivalent executives in a general partnership or LLC

• After paying the claim, Argo Pro will not subrogate against an Insured Person unless there has been a final non-appealable adjudication triggering the Conduct Exclusion

• Argo Pro will defer to the primary D&O policy to define a claim and a loss to ensure seamless coverage

• Fully non-rescindable

• The actions or behavior of one insured cannot be held against another insured

Coverage Limits

  • Maximum Capacity: $25 million
  • No minimum attachment

Appetite & Availability

Targeted classes

  • All publically traded commercial and financial institutions
  • Larger private companies would also be in scope

Geographic availability

We can write on an admitted basis in the following states:

  • Alabama
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • District of Columbia
  • Florida
  • Georgia
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Virginia
  • Vermont
  • Washington
  • West Virginia
  • Wisconsin

Coverage is always subject to all of a policy’s terms and conditions. This is a summary of certain key aspects of coverage. Review the policy form for complete terms and conditions. Products are underwritten by U.S. insurers that are members of Argo Group. Some products are only available through an authorized surplus lines insurer.

Resources Updated

Contact

Craig Landi

President

212-607-8857

Richard Edsall

Senior Vice President, Commercial Management Liability

732-692-6163

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