Berkshire Hathaway Specialty Insurance has introduced the Canadian editions of the Executive First Directors & Officers Liability insurance policy and the Executive First Side A DIC Directors & Officers liability policy, designed to provide customizable coverage for the complex risks of large commercial and financial organizations in Canada.
BHSI’s Executive First D&O liability policy provides protection to address key areas of exposure for Canadian companies, including securities class actions, shareholder derivative actions and government investigations. Coverage is provided for individual board members and executives in claims for which the company is unwilling or unable to indemnify them. Up to $100 million in capacity is available.
This new D&O liability policy is complemented by the Side A DIC D&O liability policy, which provides a “safety net” for individual directors and officers in D&O claims where (1) their company cannot indemnify them, and (2) the underlying D&O insurance does not respond either because limits are exhausted or the claim arises from a “difference in conditions” (DIC) event (including where BHSI’s Side A DIC policy is broader than the underlying D&O insurance).
Along with primary D&O liability and lead Side A DIC D&O liability coverage, BHSI can provide follow form excess D&O liability insurance.
The D&O liability and Side A DIC D&O liability insurance policies are part of Executive First, BHSI’s suite of executive liability insurance products. BHSI’s Executive First is a registered trademark in the U.S.
Berkshire Hathaway Specialty Insurance provides commercial property, casualty, healthcare professional liability, executive and professional lines, surety, travel, programs and homeowners insurance. In Canada it underwrites on the paper of National Liability & Fire Insurance Co., a member of Berkshire Hathaway’s National Indemnity group of insurance companies.
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