|Chartis Introduces Executive EdgeSM, Next Generation D&O Policy for Public Companies|
NEW YORK – April 26, 2010 – Chartis today announced the introduction of Executive EdgeSM, a policy developed by its Executive Liability Division to address the unprecedented risks facing directors and officers of public companies.
Executive Edge provides innovative solutions for public companies and the personal exposures of their executives. Unlike other D&O policies, Executive Edge provides protection when insured companies refuse or otherwise fail to provide indemnification to their executives. It is the first primary D&O and company liability policy to integrate this executive payment feature for any reason, not just company insolvency. In addition, Executive Edge responds to developing issues faced by today’s business leaders, including a reinvigorated enforcement environment, increased derivative litigation, trial by press, extradition, foreign incarceration and challenges to compensation. For multinational companies, Executive Edge expands coverage to match what Chartis insurers provide in foreign markets through its global liberalization clause. Further, the complexities of cross-border placement may be addressed through Chartis’ Passport service platform.
Chartis is uniquely positioned to respond to the legal and economic challenges facing public companies and their management worldwide given its decades of experience as an industry leader in D&O coverage, and it works closely with brokers and insureds to deliver coverage that is at the forefront of emerging exposures.
“With higher stakes for public company leadership, directors and officers are more concerned than ever before about their reputations and personal assets,” said Michael Smith, President of Executive Liability. "Executive Edge is the only D&O policy available on the market that offers comprehensive protection for the real exposures facing public company executives in today’s volatile market."
The policy will roll out worldwide beginning on May 3, 2010. For more information regarding Executive Edge, please send an e-mail to email@example.com or visit www.chartisinsurance.com.
Chartis is a world leading property-casualty and general insurance organization serving more than 70 million clients around the world. With one of the industry’s most extensive ranges of products and services, deep claims expertise and excellent financial strength, Chartis enables its commercial and personal insurance clients alike to manage virtually any risk with confidence.
Chartis is the marketing name for the worldwide property-casualty and general insurance operations of Chartis Inc. For additional information, please visit our website at http://www.chartisinsurance.com. All products are written by insurance company subsidiaries or affiliates of Chartis Inc. Coverage may not be available in all jurisdictions and is subject to actual policy language. Non-insurance products and services may be provided by independent third parties. Certain coverage may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds and insureds are therefore not protected by such funds.