American International Group Inc. (AIG) has unveiled Independent Directors Liability Insurance, a standalone policy designed to protect the personal assets of independent directors in case corporate wrongdoing prevents them from being covered by traditional directors-and-officers liability insurance. AIG said IDL Premier provides non-rescindable coverage for independent directors only.
The company reports limits of liability, which are available up to $25 million, aren’t shared with inside directors and officers or the corporate entity.
IDL Premier provides coverage if the primary and excess directors and officers policies do not respond as the result of a decision, when a claim is excluded, or the breach of a non-severable warranty.
Topics AIG
Was this article valuable?
Here are more articles you may enjoy.
5 Years After Surfside Collapse: Safer Condos, More Transparency for Underwriters 
Intersecting Risks and the Future of Construction Insurance 
‘Ghost Broker’ Who Procured 1,120 Policies Through Fraud Arrested 
DeSantis Signs Citizens Commercial Clearinghouse Bill That’s Been Called ‘Unneeded’ 
