Limits
On average we offer 15M€ limit with the possibility to increase it up to 25M€
We offer different options of covers:
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. Main covers are comprise of those in Side A and B, with the addition of:
- Protection for directors and officers, as well as other individuals, including coverage for:
- 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
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. Main covers are all those in Side A with the addition of:
- 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
Side A
This policy provides “ground up” cover for individual directors and officers when the company does not indemnify. These are the main covers:
- 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
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
