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A-Side D&O Excess DIC Highlights
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- Mandatory advancement of defense fees and expenses
- Liberal notice provisions:
- Notice of claim as soon as practicable after risk manager or general counsel first learns of claim, not later than 90 days after the end of the policy period
- Notice of circumstances is permitted during the discovery period
- Automatic five-year Run-Off Coverage after named insured acquired, at no additional premium
- No panel counsel
- Nonrescindable
- Broad Subsidiary Acquisition/Creation Coverage:
- Coverage automatic for newly acquired subsidiaries unless assets exceed 20% of entity’s assets
- 90-day automatic coverage for subsidiaries that exceed 20% of reporting threshold
- Noncancelable by insured or insurer except for nonpayment, upon 20 days’ notice
- Mandatory coverage arbitration, available only at insured’s request
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