Dual Commercial offering D&O excess program
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Lloyd’s of London coverholder Dual Commercial LLC said Monday it has introduced a public company directors and officers excess insurance program that will offer up to $10 million in limits.
Dual, a unit of Howden Group Holdings Ltd., said it is offering the coverage on behalf of insurer partner Accredited Specialty Insurance Co., a subsidiary of Hamilton, Bermuda-based Randall & Quilter Investment Holdings Ltd.
Its statement said Dual will offer full excess coverage as well as Side A only business, which covers directors and officers’ nonindemnifiable losses.
Dual said the program will be offered along with its transactional liability insurance program as part of its newly created Dual transaction solutions unit.
New York-based Dennis Kearns, leader of the transactional liability insurance program, will be president of the new Dual transaction solutions program, the statement said.
New York-based Pat Darragh, who is executive vice president of the new group, will maintain his current leadership role in transactional liability. In addition, New York-based Dan Simnowitz will become executive vice president in transactional liability.
Experts have said while the management liability marketplace is facing significant challenges related to the COVID-19 pandemic it will benefit from the increased capacity entering the market.
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