New York, NY
Starr Companies announced today an enhanced Directors & Officers policy, providing additional protection for directors, officers, trustees, governors, management committee members or board of managers members for decisions made within the scope of their designated roles. Often referred to as “Side ‘A’ Difference-in-Conditions (DIC),” the policy can provide coverage for a “DIC Event” and for instances in which an underlying insured fails or refuses to indemnify a covered person.
“As businesses continue to adapt to a changing regulatory environment and directors and officers face more exposure than ever before, Starr Companies continues to offer executives security in their decisions,” stated Brian Inselberg, senior vice president – Financial Lines. “Our Side ‘A’ Directors & Officers Excess And Lead Difference-In-Conditions (“DIC”) insurance policy can fill in potential gaps in coverage and mitigate personal loss.”
Starr’s Side ‘A’ policy features:
- Broadened definition of an insured person;
- Coverage for certain pre-claim investigations; and
- Coverage for certain acts taken by controlling shareholders or those serving in the capacity of a fiduciary of an employee benefit plan.
The policy can be written as a lead “ground up” Side ‘A’ policy or a Side ‘A’ Excess Difference-in-Conditions and is part of a growing suite of financial lines products and services from Starr.