Director's & Officer's Insurance.

searcher profile

October 05, 2021

by a searcher from Embry-Riddle Aeronautical University in Tucson, AZ, USA

Any recommendations on D&O insurance in the US? I am putting together a board and the chairman wants the insurance in place. It's to cover the board of directors. As of now there is 5 members.

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commentor profile
Reply by a professional
from Millikin University in Chicago, IL, USA
With regards to recommendations, I would say that Search Funds require some special handling. There is plenty of benchmarking available by brokers to determine the proper limit. There are many active D&O insurers in the U.S., although it usually comes down to a handful of players.


It's also good to package the D&O with Employment Practices, Fiduciary, and Crime insurance. One big decision that you will have to make is whether to have separate or shared limits across D&O / EPL / FID. In other words, will you have a separate tower for each coverage line, or can an EPL loss also erode the D&O limit (and vice versa). The difference in cost can be 10% - 15%.
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Reply by a searcher
from University of Colorado at Boulder in Los Angeles, CA, USA
If you want to explore an ‘insurtech’ solution then try Tanner Hackett at Counterpart.
https://yourcounterpart.com/about
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