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Directors and Officers (D&O) insurance provides coverage to a company and its subsidiaries against claims made against its directors and officers as well as against the company in connection with financial losses alleged by: 

  • Companies
  • Shareholders, employees 
  • Other third parties (including competitors’ clients, etc.) 

Claims can arise out of

  • Any breach of duties, mismanagement, negligence, omission, error, misstatement or misleading statement by the director or any officer 
  • Any actions performed by the director as part of his or her regularly assigned duties 
  • Any duties performed by the director or any other officer while serving at an outside entity 
  • Violations of employment-related statutes 
  • Written demand for monetary and non-monetary relief, civil lawsuit seeking monetary or non-monetary compensation, criminal or administrative proceedings 
  • Insured event (insured claim against directors, officers or a company) 
  • Compensation for the caused damage pursuant to the court decision 
  • Compensation for the caused damage pursuant to the out-of-court settlement 
  • Adequate and reasonable costs of defense (legal costs) 

The coverage provides for

  • Automatic inclusion of new subsidiary companies whose assets do not exceed 10% of the parent company’s assets 
  • Approved list of highly professional legal consultants 
  • Zero deductible for non-indemnifiable loss 

Main advantages of insurance with AIG

 

  • AIG is a leader in this type of insurance, both worldwide (the market share is over 30%) and nationwide 
  • Among its clients AIG has all Russian companies listed in the USA, most of the companies listed in London and an impressive number of Russian private companies
  • We pride ourselves on our team of top-notch professionals capable of making on-the-spot decisions regarding transactions worth of up to 25 million US dollars without seeking assistance of western management. Our own capacities (100 million US dollars protection in your case) allow us to opt out reinsurers’ services; therefore, we can set independent insurance parameters (including prices). Furthermore, we are the only Russian insurer that can boast hands-on experience in loss coverage paid under D&O insurance policies in Russia 
  • Availability of insurance with AIG companies in other countries of the world, including an option of development of a global insurance program providing for issuance of locally tailored policies to comply with the applicable laws and regulations or to meet requirements of the insured