This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Travelers Adds New Broad Form Plus+(sm) To Directors And Officers Liability Coverages Portfolio

Stocks in this article: TRV

Travelers (NYSE: TRV) today announced the addition of Broad Form Plus+ sm to its portfolio of directors and officers (D&O) coverages as a way to protect against concerns above and beyond corporate liabilities.

“Directors and officers may be putting personal assets at risk with every decision they make,” said Jeffrey P. Klenk, Senior Vice President, Travelers Bond & Financial Products. “Our new Broad Form Plus+ coverage extends protection beyond traditional ABC D&O policies by offering difference in conditions coverage for nonindemnifiable risks.”

While many companies typically provide protection to their directors and officers for defense costs and indemnity through their corporate bylaws, there are certain instances where a company cannot indemnify. These occurrences can include: settlements or judgments in lawsuits brought by or on behalf of the corporation; when public policy limits indemnification, or payment of defense costs is limited under certain federal and state statutes; and when there are no available corporate assets. Travelers Broad Form Plus+ helps protect directors and officers of public, private and nonprofit organizations across a variety of industries against these and other risks.

Key features of Broad Form Plus+ include:

  • Nonrescindable coverage for nonindemnifiable claims against directors and officers, including pre-claim inquiries by regulatory or governmental authorities;
  • No exclusions for independent directors and an additional limit of liability for nonindemnified loss of independent directors without a requirement that claims, pre-claim inquiries or custodial detentions be unrelated;
  • Difference in condition coverage or protection when indemnification is not available or paid by any other source;
  • Automatic six-year extended reporting period for independent directors that cease serving in all capacities within the organization; and
  • Coverage for fees and expenses incurred by a director or officer to seek release from arrest or confinement to a residence or custodial facility by law enforcement agencies in the U.S. and abroad, including travel and accommodation expenses for relatives if the detention occurs in a foreign country.

Broad Form Plus+ does not have exclusions commonly found in D&O policies in the industry, such as prior notice, prior or pending proceedings or litigation, bodily injury or property damage, professional services, insured versus insured and the Employee Retirement Income Security Act (ERISA).

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs