Allied World launches new D&O product for publicly-traded firms in Canadian market

Allied World North America has launched a new policy that aims to address coverage gaps for directors and officers of publicly-traded companies in the Canadian market.

The “Executive ForceField product” is an upgraded Side ‘A’ Directors & Officers Excess and Lead Difference-in-Conditions (DIC) insurance policy, Allied World said.

It provides broad ‘Side A’ coverage for non-indemnified loss and is available on both an excess and DIC basis.

Kent Paisley, senior vice president of professional lines will oversee the team underwriting the product, while Michael Shore, vice president of professional lines will be the day-to-day contact for the team.

“Since the global financial crisis, the legal and regulatory environment continues to evolve, posing new challenges for companies and their executive management teams,” Paisley noted in the announcement.

“Our Side ‘A’ DIC policy helps protect officers of corporations, limiting their personal financial risk and any coverage gaps that may occur in a standard policy. We believe this is the next level of protection for the individuals who every day make decisions on behalf of their companies.”