Marsh Inc. has launched a directors and officers liability insurance program for international organizations.
Called Marsh Delta D&O, the service offers coverage on a single-claim basis instead of an aggregate limit, the broker said Monday in a statement.
Limits up to £100 million ($151.7 million) are offered, and the product includes more than 100 enhancements to most standard market forms. The coverage includes protection against personal liability from nonpayment of corporate taxes demanded during the policy period; reasonable fees, costs and expenses associated with an investigation; and an additional limit for environmental violations on top of the overall limit.
“Today, directors are making management decisions in the context of a challenging economic climate, evolving regulation and heightened regulatory scrutiny,” Leslie Kurshan, a senior vice president in the financial and professional practice, said in the statement. “Many are increasingly worried that decisions made today, based on current information, could be attacked later with the benefit of hindsight. For directors, this means the potential for civil, regulatory and criminal liability.”
The program is available to private, private equity-owned and publicly traded U.K. and international businesses outside the FTSE 100 or geographical equivalent, which includes organizations that have Level 1 American Depository Receipt programs.
It is not available to companies that are domiciled in the U.S., directly listed on U.S. exchanges or have Level 2 or 3 ADR programs.
Source :The Business Insurance.
Date : 20/05/2013