Arch Essential Side A®
SIDE A LEAD DIFFERENCE IN CONDITIONS (“DIC”) & FOLLOW FORM EXCESS LIABILITY INSURANCE POLICY
In today's legal, economic and regulatory environment, directors and officers face a heightened degree of personal liability. With corporate insolvencies and the continuous rise of government enforcement proceedings, directors and officers have never been more exposed. The reliability of indemnification and insurance is paramount so that individuals can feel secure in serving as directors or officers. The Arch Essential Side A® Policy is designed to protect the personal assets of directors and officers when indemnification and insurance are otherwise not available. And because it's Arch, coverage is backed by our strong financial security. As an early entrant into this market, our team of underwriting and claims professionals have extensive experience in handling non-indemnifiable risk exposures.
Public and private companies in all industry segments.
- Concise, Simple Four-Page Coverage Form - Coverage wording is considerably more concise and simpler than all other coverage forms available in the marketplace.
- Covers Non-Indemnified Loss of Insured Persons - Covers Loss of an Insured Person that each Organization: (i) is neither permitted nor required to indemnify or advance; (ii) refuses to indemnify or advance or is financially unable to indemnify or advance; or (iii) fails to indemnify or advance within 60 days after a written request for indemnification or advancement by or on behalf of an Insured Person, and that has been neither indemnified nor advanced from any other source.
- Includes Both Excess and DIC Coverage - Coverage includes both excess and DIC coverage. DIC coverage is triggered when a DIC Event occurs. "DIC Event" means the insurer of an Underlying Policy: (i) rescinding, or attempting to rescind, such Underlying Policy; (ii) denying coverage for any reason; (iii) not being liable to provide coverage according to the terms and conditions of such Underlying Policy; (iv) failing to respond to a written request for payment on behalf of an Insured Person within 60 days of such request; (v) failing to pay the proceeds of such Underlying Policy because such insurer is subject to any receivership, liquidation, bankruptcy, insolvency, dissolution, rehabilitation, or other similar proceeding; or (vi) failing to pay the proceeds of such Underlying Policy because such proceeds are subject to an automatic stay under the United States Bankruptcy Code or any similar law or an injunction or other legal order prohibiting payment.
- Broad Follow Form Coverage - Coverage for Non-Indemnified Loss is intended to follow state-of-the-art primary policies available in the marketplace. Except as otherwise provided, coverage follows form to, and applies in conformance with, the provisions of the scheduled Followed Policy.
- Conduct Exclusions Only - Followed Policy exclusions are deleted and replaced with conduct exclusions only. Conduct exclusions apply only when a final non-appealable adjudication establishes that such conduct occurred. Conduct exclusions do not apply to Defense Costs.
- Claim Cooperation Severability - The failure of any Insured Person to cooperate with the Insurer shall not affect coverage for any other Insured Person.
Select retail and wholesale producers
Up to $25 million in limits on a primary and excess basis
Insurance coverage is underwritten by a member company of Arch Insurance Group Inc. This is only a brief description of the insurance coverage(s) available under the policy. The policy contains reductions, limitations, exclusions and termination provisions. Full details of the coverage are contained in the policy. If there are any conflicts between this document and the policy, the policy shall govern. Not all coverages are available in all jurisdictions.