Being a director on a listed entity attracts heightened exposure to litigation and class action risks. With no immediate changes to the legal environment to deter litigation funders from instigating class actions and eroding policy limits on a Directors and Officers (“D&O”) Liability policy, Liberty’s Side A Excess cover provides isolated protection solely for the directors and officers to protect their legal liability and personal assets.
At a glance:
- Provides difference-in-conditions cover which may provide protection when the:
- claim is not covered by the underlying corporate D&O policy;
- corporate D&O insurer(s) is insolvent; or
- corporate D&O policy is rescinded by the insurer(s)
- Fills potential gaps in corporate D&O cover
- Limits exhaustion peace of mind: a policy limit is set aside exclusively to cover claims made if the corporate D&O cover limit is depleted from paying previous claims.
