Marsh broadens D&O to include investigation coverageReprints
Marsh Ltd. said Thursday it has broadened its D&O coverage under its Marsh Alpha policy.
Marsh Alpha is a policy designed to protect executives. The policy includes executive protection consultation, mitigation costs, and there are no exclusions for loss due to property damage or bodily injury. Marsh Alpha has been enhanced to include investigation coverage for internal investigations and a broader definition of non-indemnified loss, Marsh said in a statement.
This new coverage is a response to regulators and prosecutors that seek to hold individual senior managers personally accountable for corporate wrongdoing, according to the statement.
According to Marsh Ltd., a unit of Marsh L.L.C., “traditional D&O liability insurance policies provide cover when a legal proceeding is served, or a formal investigation commences, but generally include few scenarios where an individual is investigated by his or her own organization. In the current environment, individuals may need legal assistance before these traditional policies would respond.”