Coverage Highlights
Definitions
- Broad definition of insured:
- Estates
- Heirs
- Legal representatives
- Spouses and domestic partners
- General partners, managing partners or functionally equivalent executives in a general partnership or LLC
- Broad DIC provisions:
- Wrongful failure to indemnify
- Fails to advance defense costs in 60 days
- Underlying insurance is financially unable to pay
- Underlying insurance threatens to rescind
- Underlying insurance is subject to a bankruptcy stay
Coverage Limits
- Maximum Capacity: $15 million
- No minimum attachment
Appetite & Availability
Target risks
- Commercial D&O will consider all publicly traded companies and larger private companies
- Financial Institutions will consider all publicly traded and all private companies
Additional Information
- Argo Pro will make the payment if the underlying insurer does not provide this (Side A DIC coverage only)
- After paying the claim, Argo Pro will not subrogate against an insured person unless there has been a final non-appealable adjudication triggering the conduct exclusion
- Argo Pro will defer to the primary D&O policy to define a claim and a loss to ensure seamless coverage
Coverage is always subject to all of a policy’s terms and conditions. This is a summary of certain key aspects of coverage. Review the policy form for complete terms and conditions. Products are underwritten by U.S. insurers that are members of Argo Group. Some products are only available through an authorized surplus lines insurer.
