Independent Directors Liability
Nuts & Bolts: American International Group Inc. (AIG) unveiled Independent Directors Liability Insurance, a standalone policy designed to protect the personal assets of independent directors in case corporate wrongdoing prevents them from being covered by traditional directors-and-officers liability insurance. AIG said IDL Premier provides non-rescindable coverage for independent directors only. Limits of liability aren’t shared with inside directors and officers or the corporate entity. IDL Premier provides coverage if the primary and excess directors and officers policies do not respond as the result of a decision, when a claim is excluded, or the breach of a non-severable warranty.
Dollars: Limits of liability available up to $25 million.
Carrier: AIG.
Contact: managementliability@aig.com
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