Quickly changing regulations and legal requirements, economic turbulence and expansion into new territories and markets, have created unprecedented liability risks for corporate directors & officers (D&O). The threat of litigation and investigation is growing in all businesses – and the consequences for corporate leaders and their companies can be enormous.
Our D&O policy helps manage the potential liability exposures of executives by paying defense costs, as well as damage awards and settlements (as long as no intentionally fraudulent behavior or illegal profit is established). Our D&O policy protects the personal assets and careers of directors & officers and reimburses the company in case it indemnified its managers for D&O losses.
Our market-leading D&O wordings were tailor-made for Middle Eastern companies and approved for usage across the Middle East. They take into consideration local requirements while offering worldwide coverage. There are a number of extensions that have recently been developed in the D&O area, which are also accessible in our wordings:
- Pre-claim events
- Investigation costs resulting from a security holder derivative demand
- Investigations commenced by an arrest and detainment or incarceration in a Foreign Jurisdiction
- Directors’ kidnap response costs
- Lifetime extended reporting period for retired directors
- A broad definition of financial loss
We can offer capacity up to USD 50 million. However, please bear in mind that the deployment of the maximum capacity is very dependent on the risk’s quality and is only done on a very selective basis.