Directors & Officers Liability

Stand-Alone Coverages
In today’s environment of securities-related ligation and regulatory concerns, public companies are arguably facing more scrutiny than ever before. Every day, newspapers are filled with articles about companies being sued over issues like accounting fraud, mergers and acquisitions, signs of financial weakness and conflicts of interest. Courts are overflowing with shareholders making damaging claims against directors and officers. Public company directors and officers can feel confident with D&O insurance from The Hartford.
 
The Hartford's new market-leading Directors & Officers (D&O) Liability policy is designed to address demand for innovative solutions for the complex litigation and regulatory issues faced by publicly traded companies and their directors and officers. The Hartford combines its leading product offering with financial strength, international capabilities, a seasoned underwriting staff and in-house claims expertise to provide customers with a comprehensive solution.
 

New Business Applications

 

Forms

 

The Hartford D&O Premier Defense®

Target: Publicly-traded commercial companies of all sizes, across the spectrum of industries.
 
The Hartford D&O Premier Defense® provides primary indemnifiable and non-indemnifiable coverage for directors and officers of public companies, and primary coverage for public companies as a result of a securities claim or for investigation costs resulting from a derivative demand. The policy protects directors and officers of financial institutions against loss (damages and defense cost) arising out of their status or conduct as directors or officers. Common claims allege breach of duty, security law violations, and unfair competition. Coverage also extends to securities claims that name the entity.
 

New Business Applications

Renewal Applications

Supplemental Applications

Target: All publicly-traded and privately-held real estate investment trusts, including members of REIT associations.
 
With underwriting staff focused on the Real Estate Investment Trust (REIT) industry, The Hartford has become a market leader in REIT management liability protection. With this wealth of experience and dedication, have a strong commitment to the REIT community, competitive premium and retention options, market-leading coverage, and underwriting and claims expertise.
 
This policy protects directors and officers of real estate investment trusts against loss (damages and defense cost) arising out of their status or conduct as directors or officers. Common claims allege breach of duty, security law violations, and misrepresentation. Coverage also extends to securities claims that name the entity. Optional coverage is available for non-securities claims against the entity.

 

New Business Applications

Forms

Package Policies

Private Choice PremierSM

Target: Most classes of privately-held, for-profit companies (excluding, e.g., financial services) will qualify for one or more coverage parts.
 
Privately-held companies are not sheltered from management liability exposures. No matter the precautions taken there’s risk inherent in everyday operations. To help address this risk, The Hartford offers directors, officers & entity liability coverage as part of Private Choice PremierSM – a modular product with up to five coverage parts:
 
Flexible coverage that works with business exposures and needs:

  • Flexibility to select up to five coverage parts
  • Purchase a separate limit of liability for each liability coverage part or a single aggregate limit for all liability coverage parts
  • Select different limits for each coverage part

New Business Applications

Renewal Applications

Forms

 

Marketing Materials

Private Choice Encore® for Healthcare Organizations

Target: Healthcare organizations providing services in both the outpatient and inpatient settings.
 
In keeping pace with today's complex healthcare environment, healthcare organizations of all kinds face significant exposures related to management liability. The Hartford is a leader in providing management liability coverage and understands the nuances and risks inherent in today’s legal environment for outpatient and inpatient healthcare service providers. From employment-related lawsuits to employee theft and everyday management decisions – as well as navigating today’s rapidly changing healthcare business landscape – healthcare organizations need an industry-specific product to contain their organizational liability.
 
Designed to meet the unique needs of a broad range of private healthcare organizations, Private Choice Encore for Healthcare Organizations can include the following coverage in one package policy form:
 
Policy features
 
  • Flexibility to select up to five coverage parts
  • Purchase a separate limit of liability for each liability coverage part or a single aggregate limit for all liability coverage parts
  • Select different limits for each coverage part

New Business Applications

Forms

The Hartford Asset Management ChoiceSM Policy

Target: Asset managers, including private registered investment advisers, hedge funds, mutual funds and other wealth management firms and advisers.
 
The Hartford Asset Management ChoiceSM Policy offers investment firms the ability to design coverage by electing all or a combination of investment adviser professional liability, directors and officers liability, investment company directors and officers liability and investment company professional liability, and affiliated service provider liability. The Policy helps protect investment advisers, mutual fund directors/trustees and hedge funds against claims resulting from wrongful acts specific to their industry – whether they arise in the provision of professional services or involve other emergent areas of risk, such as cyber.
 
Combined with our Middle Market standard lines solutions (Property, General Liability, Commercial Auto, Workers’ Compensation and International coverage), The Hartford provides investment advisers with the broad protection they need and the service they deserve.
 

Applications

Forms

Marketing Materials

The Hartford Private Equity Choice® Policy

Target: Tradition PE, Growth PE, Venture Capital, Real Estate Funds, Mezzanine Funds, SBIC Funds and Fund of Funds
 
The Hartford Private Equity Choice® Policy responds to the complex needs of private equity and venture capital firms structured as limited partnerships, general partnerships, joint ventures, corporate D&O/partnership D&O (combination), trusts, limited liability companies (LLCs), limited liability partnerships. The policy helps protect directors, officers, managers, principals and general partners of and funds against loss (damages and defense cost) arising out of their status or conduct as such. Coverage is also provided for regulatory proceedings targeting the firm and professional services rendered by the firm and its employees. Further, outside directorship liability is available for directors who sit on boards of portfolio companies. Common claims allege breach of duty, regulatory violations, unfair market conduct, controlling shareholder liability, and prospectus misrepresentation.
 

New Business Applications

Forms

Marketing Materials

Directors & Officers Liability and Errors & Omissions Liability Policy

Target: Property & Casualty, Life or Accident & Health insurance companies with at least $1 billion in policyholder surplus,* A.M. Best ratings of A- or higher, multiple product lines and geographically dispersed risk characteristics. Coverage is intended for companies that are financially sound with established management teams and strong corporate governance.
 
This policy protects insurance companies against loss (damages and defense cost) arising out of extra-contractual obligations as well as their status or conduct as directors or officers. Common claims allege bad faith in the claims handling process, breach of duty, security law violations, and unfair competition.
 

New Business Applications

 

Forms

Private Choice PremierSM for Nonprofit Organizations

*Effective 4/1/17
 
Target: A broad range of not for profit organizations (excluding, e.g., healthcare, condo/HOA and churches) will qualify for one or more coverage parts.
 
Nonprofit organizations are not sheltered from management liability exposures. No matter the precautions taken there's risk inherent in everyday operations. To help address this risk, The Hartford offers a modular product with up to five coverage parts as part of Private Choice PremierSM:
 
 
Side - A DIC

The Hartford Priority Protection PlusSM

Target: Financially sound companies with strong corporate governance across all industries. We will also consider harder to place risks such as financially distressed or highly leveraged companies.
 
Broad form non-indemnifiable D&O coverage, also known as "Side A" coverage protects individual directors and officers when they cannot be indemnified by their company. This policy can be written as broad form primary, excess difference-in-conditions (DIC), or independent director-only (IDL) coverage.
 

Forms

Excess Coverage

The Hartford Premier ExcessSM Policy

Target: Public and private organizations of all sizes
 
In today's challenging environment, seamless excess coverage is particularly important for managing enterprise, legal and regulatory risks. The Hartford’s new simple, follow form Premier ExcessSM Policy provides market-leading protection to help streamline your process for placing excess coverage over most management and professional liability products, including:
 

Policy highlights include:

  • A concise one-sentence follow form insuring agreement;
  • Streamlined exhaustion wording; and
  • Less excess baggage, with a limited number of provisions;
  • User-friendly form saves you time and helps streamline your process
  • Excess Crime (Fidelity) coverage is available through The Hartford Universal Excess® Simplified Policy.
As an added benefit, this coverage is underwritten by the same knowledgeable underwriter who would handle the primary coverage.
 

Forms