Texas-based National Insurance Partners Inc., a risk management, corporate governance and financial solutions firm, and Siesko Partners LLC, a corporate insurance and risk services firm headquartered in New York, announced a strategic partnership to develop new insurance products to serve the needs of independent directors.
The aim of the partnership is to inform independent directors of the personal risk associated with their position and to provide them with a comprehensive protection plan, the companies’ announcement said.
The firms are developing the DirectProtect insurance policy that they believe provides distinct advantages for independent directors over current D&O products in the marketplace.
Bill Pollock, chairman and founder of National Insurance Partners, said, “DirectProtect will allow independent directors to focus on their fiduciary responsibilities without fear of putting their personal assets at risk.”
Bill Harrison, Jr., president of NIP for the partnership, said in addition to Siesko Partners several carriers are also participating in developing the D&O coverage for independent directors.
Source: National Insurance Partners
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