Directors & Officers Liability Products:

•  Wrap+® Directors and Officers Liability Policy
•  Broad Form Plus Liability Policy
•  Excess Liability Policy for Directors and Officers

The personal assets of directors and officers are at risk with every decision they make. Non-profit organizations are coming under increasing scrutiny from regulators and can see claims from members, creditors and competitors. Statutes do not provide adequate protection for directors and officers and traditional general liability insurance will not respond to claims against directors and officers for wrongful acts. The cost of defending a lawsuit can be devastating to a non-profit organization.

For a privately held company, the personal assets of directors and officers are exposed to litigation from creditors, vendors, customers, competitors, regulators, and employees as well as shareholders. While a private company may not have the same exposure as a publicly traded company, it is exposed to securities litigation, allegations of misrepresentation by creditors or customers, conflicts of interest and/or other breaches of fiduciary duty. Wrap+® covers defense costs, settlements and judgments associated with these, and many other types of claims. Also, Wrap+® protects the personal assets of a director’s or officer’s spouse or domestic partner, as well as a deceased director’s or officer’s estate.

If directors or officers are sued for wrongdoing, chances are the company will be named in the action as well. According to recent Tillinghast Director & Officers Liability survey, the corporate entity historically is named as a defendant in 80 to 90 percent of lawsuits brought against directors and officers. Wrap+® offers corporate liability (“entity”) coverage. With Wrap+® one never has to wonder whether coverage applies to the business and/or individual directors and officers—our policy offers the full protection that is needed.

Directors and Officers Liability provides coverage for defense costs and damages (awards and settlements) arising out of wrongful act allegations and lawsuits brought against a non-profit organization or private company and the organizations board of directors and/or officers.

CIS underwrites primary and excess coverages on behalf of Travelers Casualty and Surety Company of America, an issuing company of Travelers. Primary coverage is provide under Travelers Wrap+® policy. Excess coverage is provided on Travelers Excess Liability policy for Directors and Officers. A separate Side A policy and the Broad Form PLUS+, a Side A policy with DIC (Difference in conditions) are also available.

CIS can also underwrite excess D&O on behalf of Coverys, written in Coverys Specialty Insurance Company, which is a member company of the Coverys group of companies.  See Excess Page for more information.

For Publicly Traded Companies, CIS can provide Excess Follow Form Coverage on Travelers Excess Liability Policy, Excess Side A, and Broad Form PLUS+.

“Nothing stated herein affects the terms, condition and coverages of any insurance policy or bond issued by any of the referenced insurers, nor does it imply that coverage does or does not exist for any particular claim or type of claim under any such policy or bond.  Availability of coverage referenced in this document can depend on underwriting qualifications and state regulations”

Coverage underwritten by Travelers Casualty and Surety Company of America and its property casualty affiliates, Hartford, CT 06183