Allied World North America has launched the Executive ForceFieldproduct, a policy specifically developed to address coverage gaps for directors and officers of publicly traded companies in the Canadian market.
This upgraded side ‘A’ directors & officers excess and lead difference-in-conditions insurance policy provides broad ‘Side A’ coverage for non-indemnified loss and is available on both an excess and DIC basis.
Kent Paisley, senior vice president, professional lines, will oversee the team underwriting the product. Michael Shore, vice president, professional lines, will be the day-to-day contact for the team.
Paisley commented, “Since the global financial crisis, the legal and regulatory environment continues to evolve, posing new challenges for companies and their executive management teams. Our side ‘A’ DIC policy helps protect officers of corporations, limiting their personal financial risk and any coverage gaps that may occur in a standard policy. We believe this is the next level of protection for the individuals who every day make decisions on behalf of their companies.”
Source: Allied World Assurance Company Holdings AG
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