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D&O Entity Highlights
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- Entity Securities Coverage automatically included in the policy
- Shareholder Derivative Demand Investigation Costs Coverage automatically included in the policy, subject to separate limit
- Blanket Nonprofit Outside Position Coverage and scheduled coverage of For-Profit Outside Position Coverage
- Crisis Fund Coverage automatically included in policy
- Broad definition of “claim” includes criminal proceedings
- Broad definition of “claim” also includes formal and informal interviews of insured persons by any governmental or self-regulatory authority, but only with respect to A-Side Coverage
- Broad definition of “insured person” includes employees of the entity when named as defendants in securities
- Broad definition of “wrongful act” includes service or status as fiduciaries of employee benefit plan sponsored solely by the insured entity, but only with respect to A-Side Coverage
- Broad definition of “loss” expressly includes:
- Punitive, exemplary, and multiple damages when insurable under the applicable law most favorable to the insured
- Loss from claims under Section 11 and 12 of the Securities Act of 1933
- Penalties under the Foreign Corrupt Practices Act
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