A competitive insurance market is not the only force fueling the design of new directors and officers liability products, according to experts, who say consumer demand is also creating a market for policies that offer clearer terms.
Large-scale corporate meltdowns in the early 2000s demonstrated how the limits of D&O policies can be exceeded defending the entity, leaving the individual directors, and in some cases the officers, to fend for themselves and settle litigation out of their own pockets.
This has led to a demand for products that offer terms coverage to directors and officers that is separate and distinct from coverage for the entity through what have become known as A-side policies.
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