D&O Liability Insurance originated back in the late 1970’s and into the 1980’s, primarily written back then on a “limit per insured” basis. The historical Bank and Savings & Loan crisis and collapse of the mid 1980’s, which directly overwhelmed D&O primary and reinsurance capacity, led to the last “hard market” cycle we have seen in the last two generations.
The coverage has changed a lot since then, and continues to evolve with new governmental regulation, constant new legislation, and a new world of exposure for D&O insurers to contend with. While the coverage has changed, the purpose of the coverage has never changed.
This purpose is to protect the personal assets, and corporate assets, of those who serve as directors, officers and employees of businesses of all types. It remains a liability coverage that is written to “catch all” the types of claims other liability policies do not protect against.
Additional enhancements to the D&O policy can include the following coverage, all of which can also be written on a monoline basis:
- Employment Practices Liability Insurance (EPLI)
- Fiduciary Liability
- Cyber Insurance
D&O Liability Insurance is written for three different types of risks:
- Private Companies
- Public Companies
Like many of the Specialty Lines products, D&O carriers have different appetites and a knowledge of the marketplace, the coverage forms, and the top exposures by industry class is essential to find the best program for your customer.
US Pro is known for its ability to get awesome D&O deals in place for our customers, and having underwritten it for over 20 years, we know better than anyone where your customer belongs.