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Chartis Introduces Executive Edge, Next Generation D&O Policy for Public Companies

Source: Chartis


Posted on 27 Apr 2010

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Chartis today announced the introduction of Executive EdgeSM, a policy developed by its Executive Liability Division to address the unprecedented risks facing directors and officers of public companies.

Executive Edge provides innovative solutions for public companies and the personal exposures of their executives. Unlike other D&O policies, Executive Edge provides protection when insured companies refuse or otherwise fail to provide indemnification to their executives. It is the first primary D&O and company liability policy to integrate this executive payment feature for any reason, not just company insolvency. In addition, Executive Edge responds to developing issues faced by today’s business leaders, including a reinvigorated enforcement environment, increased derivative litigation, trial by press, extradition, foreign incarceration and challenges to compensation. For multinational companies, Executive Edge expands coverage to match what Chartis insurers provide in foreign markets through its global liberalization clause. Further, the complexities of cross-border placement may be addressed through Chartis' Passport service platform.

Chartis is uniquely positioned to respond to the legal and economic challenges facing public companies and their management worldwide given its decades of experience as an industry leader in D&O coverage, and it works closely with brokers and insureds to deliver coverage that is at the forefront of emerging exposures.

“With higher stakes for public company leadership, directors and officers are more concerned than ever before about their reputations and personal assets,” said Michael Smith, President of Executive Liability. "Executive Edge is the only D&O policy available on the market that offers comprehensive protection for the real exposures facing public company executives in today’s volatile market."

The policy will roll out worldwide beginning on May 3, 2010. For more information regarding Executive Edge, please send an e-mail to executiveliability@chartisinsurance.com or visit www.chartisinsurance.com.


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