This Day On The Street
Continue to site
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

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

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

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,643.01 -11.76 -0.07%
S&P 500 1,988.87 +1.21 0.06%
NASDAQ 4,828.3250 +15.6170 0.32%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs