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CorporateGuard Directors and Officers Insurance for Financial Institutions (SEC and non-SEC)

Overview:  Protection for claims brought against directors, officers and managers for any act in a directorial or managerial capacity which leads to a claim. Specific SEC version for US exposures.

Who is it for?:  All financial institutions including Banks, Hedge Funds, Insurance Companies, Building Societies, Fund managers, Investment managers, Stockbrokers, Venture Capital firms and Finance Companies. Protection for past present and future directors, officers, employees acting in management or supervisory capacity, shadow directors, outside entity directors, spouses, administrators and executors of insured's estates. 

The SEC CorporateGuard product has been specially designed for financial institutions with exposures to US securities. It provides broader insured cover, blanket outside directorship cover and automatic cover for regulator’s costs. It also provides automatic entity cover against security claims, “express” Sarbanes-Oxley cover and expert support for our clients outside the US in dealing with the complexities of US securities legislation all backed up by the expertise of both a US based securities claims team and local market claims teams.

Cover Back To Top
  • Protection for claims brought against directors, officers and managers for any act in a directorial or managerial capacity which leads to a claim. Cover includes costs of attending an official investigation without a specific claim having been made.
  • Non-executive directors are given a ring-fenced limit of liability in addition to the policy limit. In an emergency, limited defence costs can be incurred without our prior consent.
  • Entity cover for employment practice liability and securities claims is also available. As with many of our other Financial Institutions policies, risk management consultancy services come as standard.
 
Extensions Available Back To Top
  • Affirmative cover for Sarbanes-Oxley exposure (including costs for an interpretive counsel)
  • Automatic coverage for change in US securities exposure within pre-agreed parameters
  • GBP 1 million limit per non-executive directors (over and above standard policy limit and indemnification provisions)
  • Emergency pre-approved defence costs up to 10% of limit of liability
  • Prosecution costs coverage to overturn a judicial order
  • Automatic cover for new non-US subsidiaries and for US entities valued within 15% of total group assets
  • Bilateral discovery period
  • 6 year discovery period for retired directors
  • Fees and expenses following a Kidnap incident
  • Bail Bond and Civil Bond expenses
Additional Features Back To Top
  • Additional regulatory crisis response cover
  • Pre-loss regulatory and governance advice, including DLA loss avoidance and mitigation package
  • Public Relations expenses after successful legal action