The Side A Difference in Conditions (DIC) Directors and Officers policy is specifically designed only to insure directors and officers non-indemnified loss. The policy is underwritten by our alliance partner, Sompo International Insurance.
Sompo International Insurance capacity is up to US $30 million on a primary or excess basis.
Limits are in addition to existing AEGIS D&O ABC policy.
Utility, energy or related energy companies are eligible insureds.
Admitted paper in most states.
Independently underwritten by Sompo’s U.S. Commercial Management Liability team.
All claims are managed by Sompo’s team, independent of AEGIS.
AEGIS is a reinsurer of the Side A DIC policy.
AEGIS D&O members benefit because a portion of their Side A DIC premium is contributed to their AEGIS D&O surplus for the purpose of continuity credit calculations.
Broad Difference in Conditions (DIC) coverage applies if any of the insurers of the underlying policies fails, or wrongfully refuses to indemnify the insured persons, or:
- is financially unable to pay loss
- rescinds coverage
- does not cover the loss
- is subject to the automatic stay under the bankruptcy code
Broad definition of claim.
Non-cancellable policy expect for non-payment of premium.
Policy exclusions are deleted if any underlying policy covers the loss.