The Navigators Group Inc. has created an international defense costs policy for individual directors in the wake of developments in Australia and New Zealand.
“In light of the recent Australian Institute of Company Directors (AICD) survey results and the recent judgment by the Auckland High Court in the Bridgecorp case, directors have felt vulnerable to the potential of funding their own defence costs despite having traditional D&O policies in place,” said Carl Bach, head of Syndicate 1221′s Navigators Pro division.
NavDefence will provide dedicated defense cost coverage for directors when a charge has been place on a main D&O policy. It is available for directors of private and publicly traded corporations domiciled in the region, as well as international corporations working in those countries.
The product is backed by Navigators Syndicate 1221 at Lloyd’s of London.
Was this article valuable?
Here are more articles you may enjoy.