There’s a new suite of directors and officers (D&O) liability insurance in the market, courtesy of Beazley.

Available to non-US domiciled organizations, the flexible offering ranges from a single policy to cover the company and its directors, to policies designed to address specific requirements of individuals. The policies offer limits of US$25 million.

The D&O suite features Side ABC, Beazley’s comprehensive insurance that covers the personal liability of the insured person, the firm’s liabilities when it indemnifies the individual, and the company if faced with securities claims.

Also part of the suite are Side AB and Side A, with the former made for organizations that do not require securities-related cover and the other meant for individual directors and officers in the event the company does not indemnify.

Side A DIC (difference in conditions), meanwhile, is excess and drop-down cover that protects individuals when the employer does not indemnify. Beazley said this policy responds either when limits on the underlying D&O cover are exhausted or when an underlying insurer refuses or fails to pay a claim within the correct timeframe.

“The risks that organizations and their leaders face are changing all the time and they need insurance that responds accordingly,” commented Beazley’s head of international management liability Catherina MacCabe.

“Those in senior positions want reassurance that there is cover in place that will provide protection in the event of a liability claim or regulatory investigation. Our D&O suite provides organizations and directors with a range of policy options with simple, clear wordings to ensure brokers and clients know their cover meets their specific D&O liability needs.”

The Side A DIC policy, for instance, does not restate all of the policy terms but instead follows the primary wording while highlighting the areas where cover differs.