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Available to all companies - public, private, not-for-profit and financial institutions - this policy is structured to offer broad, comprehensive coverage that cannot be canceled or rescinded for any reason other tha non-payment of premium.


  • Broad Difference-in-Conditions (DIC) drop-down coverage: the policy drops down on its own broad terms if the underlying insurer:
    • Wrongfully fails to indemnify
    • Fails to indemnify within 60 days after an insured's request
    • Is financially unable to pay
    • Threatens to rescind coverage
    • Is subject to a bankruptcy stay
  • Broad definition of Insureds includes: directors and officers, management committee members, limited liability company managers, in-house general counsel, comptrollers, risk managers, functional equivalents of these positions in a foreign company, non-officer employees in a securities claim, and in any other type of claim while codefendant with D&Os
  • Broad definition of Loss includes: extradition proceeding costs; exemplary, punitive and multiple damages where insurable, and most favorable jurisdiction governs insurability; and certain Foreign Corrupt Practices Act civil penalties. Precludes the assertion of uninsurability of violations of Section 11 or 12 of the Securities Act of 1933
  • Broad definition of Claim includes: any investigation, extradition proceedings, and proceedings in which the insureds are deposed or must be interviewed by a regulatory or governmental authority
  • Broad Outside Directorship Liability coverage includes: both for-profit (for senior executives) and not-for-profit companies
  • Broad definition of Non-Indemnifiable Loss includes: failure by the Company to indemnify within 60 days after an Insured's request

Terms & Conditions:

  • Policy many not be rescinded for any reason
  • Consent by the insurer to defense counsel is not required
  • Policy non-cancelable except for nonpayment of premium
  • Notice of claim required only after in-house general counsel or risk manager of the insured company first learns of the claim; the insurer will not raise late notice objection unless materially prejudiced by the delay
  • Protective bankruptcy provisions:
    • Policy intended to not be subject to automatic stay under bankruptcy law
    • Policy proceeds first applied toward pre-bankruptcy Wrongful Acts

Please send submissions to:


  • Up to $25 million


  • Any type of public, private or not-for-profit institution


  • Conduct exclusion is applicable to personal profit, remuneration, fraud and criminal acts:
    • Not applicable to defense costs or independent directors
    • Applies only if there is an underlying adjudication of excluded misconduct
    • Exclusion fully severable as to all insureds: any fact pertaining to one insured cannot be imputed to another for purposes of applying the exclusion
  • No express exclusions for:
    • Insured versus insured
    • Prior notice
    • Bodily injury and property damage
    • ERISA
    • Section 16(b) of the Securities Exchange Act of 1934
    • Pollution
    • Prior litigation
    • Defamation of other personal injury


Westchester is one of the largest and most diverse excess and surplus lines commercial property and casualty insurance underwriters in the United States. Focused on the wholesale distribution channel, Westchester provides innovative specialty products for property, specialty casualty, environmental, professional risk, inland marine, product recall, small business, binding and programs. The business is further distinguished by exceptional financial strength, underwriting excellence and superior claims handling expertise. The material on this page contains product summaries intended for use solely by properly licensed insurance professionals. The insurance policy actually issued contains the terms and conditions of the contract. All products may not be available in all states and surplus lines products can be offered only through licensed surplus lines producers. Insurance provided by Westchester Fire Insurance Company and its U.S. based Chubb underwriting company affiliates. Chubb is the marketing name used to refer to subsidiaries of Chubb Limited providing insurance and related services. For a list of these subsidiaries, please visit our website at Westchester is a division of Chubb, a world leader in insurance. With operations in 54 countries and territories, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. As an underwriting company, we assess, assume and manage risk with insight and discipline. We service and pay our claims fairly and promptly. The company is also defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London, Paris and other locations, and employs approximately 40,000 people worldwide. Additional information can be found at: