Marsh Alpha expands D&O coverage with unlimited single-claim protection

Marsh McLennan announced that its Marsh Alpha directors and officers insurance facility now includes unlimited “any one claim” coverage as standard for commercial clients globally.

Originally launched in 2010, Marsh Alpha is a Side A difference in conditions (DIC) policy designed to protect directors and officers when their company cannot indemnify them. The facility provides up to $150 million in coverage.

Under the enhancement, the full limit of liability can now apply to an unlimited number of unrelated single claims during a policy period at no additional premium. Previously, similar wording structures were generally limited to smaller companies without exposure to more litigious markets such as the US and Australia. Financial institution clients will continue to receive aggregate coverage with three full-limit reinstatements.

“Now in its sixteenth year, Alpha continues to evolve and push the boundaries of Side A D&O coverage in the global insurance market. The facility aims to provide everything a director wants and needs: it is tried and tested, innovative, and responsive to the changing risk landscape. This latest update underlines Marsh’s dedication to providing clients with world-class solutions and continued commitment to being at the forefront of innovation.” – Paul Denny, Global FINPRO Leader, Marsh Risk.

“We are excited to be able to offer D&O coverage that will respond when clients need it most. Boards and candidates increasingly factor D&O protection into hiring decisions; by eliminating the aggregation of limits for no extra premium, Marsh Alpha offers organisations further support to recruit and retain experienced leaders in a more litigious and regulatory-focused global environment.” – Shaunna Bell, UK Management Liability Placement Leader, Marsh Risk.