Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Early signs of trouble at American International Group–which drove the holding company to near bankruptcy this month–were behind the design of at least one type of D&O coverage response, long before A.M. Best dropped ratings of AIG’s property-casualty subsidiaries to “A” from “A-plus.”

Peter Taffae, managing director of Los Angeles-based wholesaler, Executive Perils, crafted a contingency plan that he refers to as a “supercontinuity option” 90 days ago. Initially the plan was put in place for Southwest Airlines, and then for four other buyers of directors and officers liability insurance in a three-month timeframe, he said.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.


  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?


Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.