Executive Armour (Side-A Directors and Officers Insurance)

The D&O liability environment is always changing. D&O protection must be adequate for today and anticipatory for tomorrow.

Executive Armour delivers exceptionally broad coverage when and where directors and officers need it most-with coverage features such executives will not find anywhere else.

Executive Armour is a follow form excess Side-A Directors & Officers Liability Insurance with Difference In Conditions (“DIC”) coverage that is distinct from other Side-A DIC policies. The policy provides individual directors and officers with the coverage they need to protect themselves and their assets.

Features & Benefits

  • A unique "drop down" feature that triggers coverage if organizations owing indemnification or underlying insurers refuse or fail to pay for any reason, including insolvency

  • As a claimsmade policy form, it does not require notice within the policy period as a condition precedent to coverage

  • A true followform, excess structure ensures that coverage builds off the often extensively negotiated primary program enhancements and key definitions – minimizing inconsistencies

  • Limited, fully severable exclusions
    • No insureds versus insured exclusion
    • No pollution or cleanup cost exclusion
    • No "pending or prior litigation" or "prior notification" exclusions 
    • Conduct exclusions trigger upon a final adjudication of a claim, and do not apply to defence costs
    • Profit or advantage exclusion does not apply to Section 11 or 12 claims
    • Bodily injury and property damages exclusion does not apply to securities claims


  • An expanded definition of "Wrongful Act" includes any actual or alleged breach of duty, neglect, error, misstatement, misleading statement, omission or act by an insured acting as a fiduciary of an employee benefit plan sponsored by an organization
  • A broadened definition of claim encompasses both formal and informal investigations by any governmental or self regulatory authority, including the U.S. Securities and Exchange Commission ("SEC")
  • Nonrescindable, fully severable application—the conduct of one insured cannot be imputed to another when determining availability of coverage in a claim
  • Worldwide coverage and automatic incorporation of foreign AIG policy enhancements
  • Coverage for losses from claims arising from extradition from any country
  • Express coverage for settlements, judgments and defence costs in claims alleging violation of Section 11 or 12 of the Securities Act of 1933, as amended

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