Allied World Assurance Company Holdings, AG (NYSE:AWH) announced today that Allied World U.S. has launched a new version of its Executive ForceField® product; a policy specifically developed to address coverage gaps for directors and officers of publicly traded companies. This upgraded Side ‘A’ Directors & Officers Excess and Lead Difference-in-Conditions (DIC) insurance policy provides broad ‘Side A’ coverage for non-indemnified loss and is available on both an excess and ‘difference-in-conditions’ basis. Coverage is available worldwide with limits of up to $25 million. The newly refreshed Executive ForceField further complements Independent ForceField℠, a new independent directors liability product that provides protection for directors’ personal assets when all other sources of recovery have been exhausted or otherwise impaired, which Allied World U.S. launched on September 26, 2013.
Thomas Kennedy, Senior Vice President, Professional Lines, Allied World U.S. commented, "Executive management teams and corporate board members continue to face a multitude of risks in today’s regulatory and legal environment. In tandem with our trading partners, we continue to enhance and upgrade our products to meet the ever-evolving needs of our insureds. This upgraded Side ‘A’ DIC policy drops down with follow form coverage that builds off of the extensively negotiated primary coverage – reducing gaps and inconsistencies and providing protection for directors’ and officers’ personal assets. It also further supports the portable limit of liability feature of our recently launched Independent ForceField?."