AIG Statement Series

Management liability insurance for today’s complex litigation environment.

Why choose AIG Statement Series?

The AIG Statement SeriesSM is the result of a comprehensive, collaborative effort across AIG—with the benefit of important insights from brokers, clients, and leading legal experts—to provide our clients and brokers with cohesive, easy-to-read policy language.

The AIG Statement SeriesSM provides succinct and transparent management liability coverages to help protect companies and their directors and officers from a wide range of executive-level, corporate governance-related exposures.

Available products currently include:

  • Directors & Officers Statement
  • Directors & Officers Side A Statement
  • Bermuda Employment Practices Statement 

We introduced the last iteration of cutting-edge policies over 10 years ago and today remain committed to offering straightforward, statement-making products that adhere to the highest industry standards.

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AIG Statement Series Coverage Highlights

For more information, please contact your local Financial Lines underwriter or distribution partner, or email us.

  • Traditional Side A coverage with endorsements to include AIG’s broadest Side A difference-in-conditions (DIC) enhancements
  • Broad choice of counsel, with no panel counsel requirement
  • Broad insured capacity, including executive as plan fiduciary
  • Broad definition of insured loss which is the loss an organization has denied, failed, or is not permitted to indemnify
  • Narrow exclusions, only conduct and prior and pending (P&P) exclusions
  • Removed ‘and necessary’ condition from all covered costs: defense costs, liberty protection costs, asset protection costs, class certification event study expenses, and clawback assistance costs

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  • No wrongful act requirement for insured person inquiry, insured person investigation, and extradition request claims
  • Enhanced insuring clauses providing coverage for claims against insureds for wrongful acts committed by other insureds
  • Enhanced crisis loss coverage, including expanded environmental, social, and governance-related categories
  • Simplified entity v. insured exclusion, including plain exceptions for non-indemnifiable loss, loss of insured person in connection with a derivative suit, and claims brought during the bankruptcy of an organization
  • Removed ‘and necessary’ condition from all covered costs: defense costs, derivative investigation costs, liberty protection costs, asset protection costs, class certification event study expenses, clawback assistance costs, personal reputation expenses, and books and records demand costs coverages

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  • Claims reported coverage
  • No ‘willful act’ exclusion
  • Claim definition includes criminal proceedings
  • Subsidiary additions threshold lesser of 20% underwritten employee count or 5,000 employees
  • Option to report non-specified claims by bordereau or individual notice
  • Option to use AIG panel counsel at pre-negotiated rates without jurisdiction limitation

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Downloadable Materials

Filename
aig-statement-series.pdf
Size
72 KB
Format
application/pdf
AIG Statement Series Highlight Sheet

The scenarios described herein are offered only as examples. Coverage depends on the actual facts of each case and the terms, conditions and exclusions of each individual policy. Anyone interested in the above product(s) should request a copy of the standard form of policy for a description of the scope and limitations of coverage.