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Real Estate Investment Trust

The Real Estate Investment Trust (REIT) team at Arch Insurance Group is comprised of a dedicated team of highly experienced underwriters adept at addressing the unique corporate structures and management liability exposures of REITs.

Arch is the only endorsed primary carrier for the National Association of Real Estate Investment Trusts' (NAREIT) Directors and Officers Liability program which offers NAREIT members the broadest REIT-specific coverage available in the marketplace. The NAREIT D&O program is anchored by the powerful resources and expertise of Arch, NAREIT and Frank Crystal & Company (exclusive program administrator).


Public or Private REITs of all sizes


  •  Partnership Claim/Controlled Entity Coverage – tailored to address the unique organizational structures of REITs
  • Option to purchase broader entity coverage (REIT Non-Securities Claims)
  • Definition of Claim includes – investigation coverage for Insured Persons (with references to a Wells notice or subpoena)
  • Definition of Securities Claim – broad definition that includes investigation coverage for the REIT (entity) as well as for Insured Persons
  • Conduct Exclusions (Fraud and Personal Profit) – final adjudication standard with full carve backs for defense costs and Section 11, 12 & 15
  • Application & Severability – fully non-rescindable policy; limited imputation to entity– CEO & CFO only; full severability for individuals
  •  Arch Essential Enhancement Endorsement for Members of NAREIT available on most risks including the following highlights:
    • Definition of Loss - industry leading language including Section 11, 12 and 15; punitive damages; civil penalties against individuals for FCPA violations; Side A and defense costs exceptions to bump-up limitation; SOX 304/Dodd-Frank 954 Costs&; broad definition of applicable jurisdiction
    • Adds "Inquiry" Coverage incurred by Insured Persons for meetings, testimony or document requests by an Investigative Authority or the REIT
    • Delete Insured v. Insured Exclusion and replace with REIT v. Insured Exclusion
    • Delete Pollution Exclusion
    • Defense Costs Advancement on a current basis and within the Retention if the REIT refuses in writing or fails to advance Notice provision extended to 180 days if the policy is renewed with Arch Waive the need for Insurer's consent to settle a claim if all Loss is within 75% of the Retention



NAREIT D&O Program: Frank Crystal & Co. is the exclusive administrator.


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.