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A-Side D&O Excess DIC Highlights
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- No express exclusions concerning:
- Employee Retirement Income Security Act
- Pollution
- Defamation or invasion of privacy
- Failure to maintain insurance
- Section 16(b) of the Securities Exchange Act of 1934
- Narrow bodily injury/property damage exclusion:
- Not applicable to emotional distress
- Not applicable to pollution claims, provided that coverage is excess of general liability or environmental liability policies
- Narrow personal profit exclusion:
- Applies only if illegal personal profit established in any proceeding or is repaid to entity
- (Not applicable to? or Applies to?) loss from claims under Section 11 and 12 of the Securities Act of 1933
- Not applicable to defense costs
- Narrow deliberate crime or fraud exclusion:
- Applies only if deliberate crime or fraud established by final judgment in any proceeding
- Not applicable to defense costs
- Narrow insured vs. insured exclusion:
- Applies only to claims by or on behalf of the entity if at least two current executive officers approve or assist in the claim
- Not applicable to claims by or on behalf of insured persons
- Not applicable to claims outside of the U.S. or Canada
- Not applicable after named insured has change of control or files bankruptcy
- Not applicable to claims by a bankruptcy trustee, etc.
- Not applicable to defense costs
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