Overview:  Greater protection for directors's personal liabilities. Provides a combination of excess protection, drop down 'difference in conditions' (DIC) protection and cover if any of the underlying insurers can't or won't meet their policy obligations.

Who is it for?:  APEX is designed to supplement and reinforce primary layered D&O insurance programmes. Covers all natural person directors and officers, outside entity directors, shadow directors, approved persons, employees with managerial and supervisory duties, and their domestic partners.

Standard D&O insurance programmes may no longer be enough to protect the personal assets of directors in the face of the ever increasing shareholder litigation and regulation which has been witnessed in recent years. A company’s fortunes can change overnight, leaving it unable to come to the aid of its directors when they need it most, thereby leaving directors personally exposed, with little or no funds available to fight with.

Even if there is a standard D&O policy in place offering Side A cover, this may not be available for various reasons. These include exhaustion of the limit of liability by the company in defending its own claims, rescission of the policy by the underlying insurer, the application of exclusions in the underlying policy or the financial inability of any underlying insurer to pay .However, greater protection is available for directors’ personal liabilities from CorporateGuard APEX. This provides a combination of excess protection, drop down DIC protection and cover if any of the underlying insurers can’t or won’t meet their policy obligations.