Travelers Bond & Financial Products introduces its enhanced Broad Form PLUS+SM Directors and Officers Liability policy. The policy is designed to offer superior personal asset protection for directors and officers when it’s needed most.
“Directors and officers have come to rely on D&O policies for personal liability protection; however, new and emerging risks have created the need for a broader coverage that exclusively protects individuals who run the day-to-day operations of organizations as well as those who make boardroom decisions,” said Cary Meiners, D&O product manager for Travelers. “Broad Form PLUS+ was designed to meet those needs and offer our customers a state-of-the-art policy that helps them manage their business, while protecting their personal assets.”
Travelers new Broad Form PLUS+ for public companies, financial institutions and private and non-profit organizations combines claims handling with coverage for non-indemnifiable claims against directors and officers. Broad Form PLUS+ also includes difference in conditions drop-down features not found in traditional D&O policies.
A few key features and benefits of the new form include:
- A follow form provision offering uniformity of coverage between corresponding terms of the primary D&O policy giving customers the best of both forms
- A limited number of exclusions with broad exceptions
- A $1M separate and additional limit of liability for independent directors; identity fraud expense reimbursement for directors and officers; and an option to include explicitly named perils—all offered at no additional premium
Travelers, through its professional network of independent agents and brokers, offers specialized underwriting to match a customer’s unique exposures, risk management tools and services aimed at minimizing risk and preventing loss, and a claim staff with the industry expertise needed to evaluate, defend and resolve claims.
In the United States, Travelers Broad Form PLUS+ is now available in most states and will be available countrywide pending approval. For more information, visit www.travelers.com/bond.
In Canada, this coverage is available through Travelers’ network of independent brokers. For more information, visit www.travelerscanada.ca.
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