The new facility is designed to offer directors and officers access to up to £/$/€ 80,000,000 in additional capacity, providing crucial protection for non-indemnified loss scenarios.
“A-Star” serves as a vital protective layer above primary D&O insurance, ensuring comprehensive coverage for directors, officers, and insured individuals.
WTW said that the product is a valuable source of peace of mind in the face of uncertainties, safeguarding against liabilities not indemnified by their companies. This can include scenarios arising from legal restrictions, insolvency, or denial of indemnification.
With the launch of “A-Star,” WTW aims to address the evolving needs of directors and officers by providing an extra layer of financial security, enhancing their overall risk management strategies. The new insurance solution is poised to contribute to the resilience of businesses and the confidence of key decision-makers facing the complexities of today’s business landscape.
“A-Star’s unique structure harnesses the benefits of both Lloyd’s and Company market capacity, offering dynamic solutions tailored to our clients’ needs,” commented Marcus Porter-Wright, head of GB FINEX, WTW.
He added: “It provides our clients with dedicated coverage that shields their directors and officers from uncertainties. This innovative solution is a direct response to our clients’ evolving needs, reflecting our unwavering commitment to their success in a dynamic business landscape.”
Author: Joanna England