A-Star provides a vital protective layer above primary directors' and officers' insurance. With enhanced coverage and additional capacity, it provides directors, officers and insured individuals with peace of mind in the face of uncertainty. A-Star safeguards against liabilities not indemnified by their company, be it due to legal restrictions, insolvency or denial of indemnification.
Unlocking unparalleled benefits - Excess layer side A DIC explained
Excess layer
A-Star acts as a vital layer above primary Directors’ and Officers’insurance with enhanced coverage.
Side A
Safeguarding directors, officers, and other insured individuals, for liabilities not indemnified by their company, where there is a legal prohibition, insolvency, or (with A-Star) even simply a denial of indemnification.
DIC or difference in conditions
If underlying policies fail to pay a covered loss, A-Star’s as a DIC policy “drops down” to provide the necessary coverage.
Why choose A-Star?
Especially valuable when securities claims coveris purchased for the company on the underlying policies, A-Star’s ensures directors and officers have dedicated coverage that remains unaffected by company liabilities.
A-Star allows directors to have more peace of mind by offering a second opportunity for cover if an insurer lower in the tower declines a claim.
A-Star’s non-indemnifiedloss criteria reduces ambiguity, sparing directors and officers from cumbersome coverage debates.
Coveragefor individuals serving as directors or officers at the portfolio company upon private equity firm's request.
A-Star comes with only one exclusion, a narrow conduct exclusion with a full carve-back for defence costs and legal representation Expenses as well as requiring a final non-appealable adjudication.
DARCstar benefits integrated
Written to work as excess of any primary wording, A-Star allows clients access to numerous benefits of our DARCstar Directors’ All Risks Cover insurance policy wording, including:
- Investigation cost coverage: Full-limit coverage for insolvency investigations and comprehensive investigation cost protection for directors and officers.
- Fines and penalties coverage: Cover for fines and penalties to the extent they are legally insurable.
- Flexible claims participation: Minimal claims participation requirements for a seamless claims process.
- Policy conditions simplified: Clear, simple and concise terms. No conditions precedent and insurers’ remedy for policy breach established only upon prejudice.
- Extended reporting periods: Unlimited reporting period for retired insured persons and an automatic 90-day extension for other insured individuals if the policy is not renewed or replaced.
- Handling directors’ costs in disputes: Advancement of all directors’ costs in the event of an allocation dispute.
- No absolute exclusion: In relation to the gaining of profit advantage.
- Defence and investigation costs cover: Cover for bodily injury or death under the D&O policy (for death resulting in a claim against a director or officer or other insured person).
- ODL cover: Fully integrated Outside Directors Liability (ODL) cover.
- Loss mitigation protection
- Suspended claims reporting requirements: Where legal restrictions apply.
Automatic reinstatements: A-Star includes two full automatic reinstatements of the limit of liability,offering enhanced protection for different losses, one for all insureds and one for directors of the policyholder only.
Only a 30-day waiting period following request for indemnity from the company.
Contact
“A-Star directly responds to our clients' evolving needs, underscoring our unwavering commitment to their success in a dynamic business landscape.”Eve RichardsFINEX GB Head of D&O
