Instant Insights / Specialty & Surplus Lines

The surplus lines market plays a critical role in the insurance ecosystem by providing coverage for hard-to-place and specialized risks. For WSIA’s 2020 Annual Virtual Marketplace from September 10-17, read up on the unique lines and market trends impacting the specialty and E&S industry.


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People in silhouette. What distinguishes D&O liability insurance from other coverages concerning COVID-19 is the expansive range of claims that may emerge. (Photo: Shutterstock)

Months of government-ordered closures and restrictions on U.S. businesses and requirements that consumers stay home to halt the spread of COVID-19 has taken its toll on the economy.  While headlines have primarily focused on pressing issues regarding business interruption coverage, claims against directors and officers (D&O) in connection with COVID-19 have also been on the rise.

What distinguishes D&O liability insurance from other coverages regarding COVID-19 is the expansive range of D&O claims that may emerge. D&O coverage commonly provides, among others, the following main protections:  Side A coverage, for the wrongful acts of directors and officers whom the company does not or cannot indemnify; Side B coverage, for reimbursement of the company’s indemnification of its directors and officers; and Side C coverage, for the company’s wrongful acts. A wrongful act often is defined to include any breach of duty, neglect, error, misstatement, misleading statement, omission, or act of a director or officer or the company.

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