International Towers by Zurich adds Side A-only D&O insurance policy

Zurich American Insurance Company has added a standalone Side A Directors & Officers insurance coverage option for US-based multinational companies with non-US board members and officers.

The new Side A-only D&O policy, called International Towers by Zurich Executive Universal Select, addresses a need for non-US directors and officers: It helps protect their personal financial assets if they are faced with a management liability lawsuit and their company cannot cover their legal costs due to local laws, court orders or other reasons.

“With the increasing severity of Securities Class Action (SCA) claims in the U.S., primary D&O limits are more susceptible to being fully eroded. Having a dedicated non-U.S. D&O limit is gaining importance among our customers for this reason. Individual directors and officers are most concerned about non-indemnifiable loss, as their personal assets are on the line in these situations, so we designed a solution to meet this growing need. Bringing this product to them addresses an exposure that can keep them up at night.” – Brian Zink, Head of Financial Lines for U.S. National Accounts at Zurich North America.

“Zurich has provided international solutions for almost 50 years in the U.S., and this new Side A-only offering, in addition to our full coverage D&O from International Towers by Zurich, is the latest example of how we listen to our customers and solve for their evolving needs. Providing it to their overseas directors and officers can help these businesses attract and retain top talent. It helps assure their non-U.S. directors and officers that they’ll have the management liability coverage they need, if or when they need it.” – Andy Zoller, Head of International Programs at Zurich North America.