Chartis - Directors and Officers Liability

AIG - Directors and Officers Liability
AIG - Directors and Officers Liability

A director’s or officer’s exposure to lawsuits has never been greater. Decisions made on mergers, acquisitions, operations and restructuring are constantly under scrutiny: fraud and mismanagement, declines in earnings, products that do not perform in the marketplace as expected are just a few reasons that can trigger a lawsuit. Lawsuits can be filed by shareholders, debt holders, regulatory authorities, employees, creditors and other associates.

The Directors and Officers insurance policy by Chartis has been created to protect against such events. It provides coverage for claims brought against directors and officers of a company for actual or alleged breach of duty, neglect, misstatements, errors or omissions. It also includes prepayment of defense costs prior to the final examination of a claim for individuals when the company cannot provide such costs. 

Further, the plan covers reimbursement for indemnification of directors and officers for any judgments, settlements and defense costs associated with covered claims when the company has indemnified the insured for loss.

The plan is suitable for directors and officers of companies of all sizes engaged in various business areas, including: manufacturing, utilities, services, retail, wholesale, chemicals, agriculture, pharmaceuticals, engineering, real estate and transportation. For companies based outside of the United States and Canada, coverage may be written on a worldwide basis.

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