Beazley has introduced a flexible suite of D&O liability products, ranging from a single policy to cover the organisation and its directors, through to policies addressing the specific needs of individuals.

Included is a Side A Difference in Conditions policy, which insures individuals when their employer does not indemnify them. The cover responds either when limits on the underlying D&O cover are exhausted or when an underlying insurer refuses or fails to pay a claim within the correct timeframe.

Pared-back policy wording is designed to help brokers and clients see exactly what the policy covers. The new Side A DIC policy follows the primary wording and highlights the three areas where cover differs, including no fixed time limit for claims notification and cover for “reasonably incurred” defence costs; with the only exclusion relating to matters of conduct by the individuals concerned.

The expanded D&O suite also includes the Side ABC, Side A and Side AB.

Beazley’s head of international management liability, Catherina MacCabe said: “The risks that organisations and their leaders face are changing all the time and they need insurance that responds accordingly. Those in senior positions want reassurance that there is cover in place that will provide protection in the event of a liability claim or regulatory investigation. Our D&O suite provides organisations and directors with a range of policy options with simple, clear wordings to ensure brokers and clients know their cover meets their specific D&O liability needs.”

These policies are available to non-US domiciled organisations and offer limits of US$25m.

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