Directors & Officers Insurance
Whether your client is a non-profit, privately-held corporation, an emerging growth company (including IPO’s), or a corporation in transition, Quaker possesses the markets and expertise for your client’s Directors and Officers liability exposure. D&O coverage will become increasingly complex in light of the Yates Memo issued by the U.S. Department of Justice in 2015. The Yates Memo essentially instructs federal prosecutors to specifically target individual board members in the event of corporate wrongdoing. This directive to federal prosecutors dictates that individual board members are not to be released from liability even when the corporation reaches a settlement agreement with the federal government. Needless to say, conflicts of interest will become much more frequent and will lead to increased defense costs and expenses.
No account should be considered too small or too large for Quaker to provide a quote. Quaker has access to financially stable markets that provide state-of-the-art forms with virtually unlimited capacity. Some of the benefits Quaker’s markets can provide include:
- Coverage buy-back for “Whistleblower” Insured versus Insured
- “Fully Non-Rescindable” Side A coverage for non-indemnified losses
- Early Claim Reporting incentives that reduce the insured’s retention
- Outside Directorship Coverage for directors and officers that are asked to sit on the boards of non-profits
- Full Prior Acts coverage
- Amendment of Conduct Exclusion to include “Final Adjudication” language, which affords defense up until the point when a court rules that the insured acted with criminal intent
- 80/20 Settlement and Defense Clause