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AIG Statement Series

Management liability insurance for today’s complex litigation environment.

Why choose AIG Statement Series?

The AIG Statement SeriesSM is the result of a comprehensive, collaborative effort across AIG—with the benefit of important insights from brokers, clients, and leading legal experts—to provide our clients and brokers with cohesive, easy-to-read policy language.

The AIG Statement SeriesSM provides succinct and transparent management liability coverages to help protect companies and their directors and officers from a wide range of executive-level, corporate governance-related exposures.

Available products currently include:

  • Directors & Officers Statement
  • Directors & Officers Side A Statement
  • Bermuda Employment Practices Statement 

We introduced the last iteration of cutting-edge policies over 10 years ago and today remain committed to offering straightforward, statement-making products that adhere to the highest industry standards.

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AIG Statement Series Coverage Highlights

For more information, please contact your local Financial Lines underwriter or distribution partner, or email us.

  • No wrongful act requirement for insured person inquiry, insured person investigation, compensation clawback, and extradition request claims

  • Enhanced insuring clauses providing coverage for claims against insureds for wrongful acts committed by themselves and other insureds

  • Simplified entity v. insured exclusion, including plain exceptions for non-indemnifiable loss, loss of insured person in connection with a derivative suit, and claims brought during the bankruptcy of an organization

  • Simplified related investigation costs coverage option, including enhanced lookback coverage

  • Enhanced crisis loss coverage, including expanded environmental, social, and governance-related categories

  • No ‘necessary’ condition for any covered costs: defense costs, derivative investigation costs, inquiry costs, liberty protection costs, asset protection costs, class certification event study expenses, clawback assistance costs, personal reputation expenses, and books and records demand costs coverages

  • Traditional Side A coverage with endorsements to include AIG’s broadest Side A difference-in-conditions (DIC) enhancements

  • Broad choice of counsel, with no panel counsel requirement

  • Broad insured capacity, including executive as plan fiduciary

  • Broad definition of insured loss

  • Limited exclusions, only conduct and prior and pending (P&P) exclusions

  • No ‘necessary’ condition for any covered costs: defense costs, inquiry costs, liberty protection costs, asset protection costs, class certification event study expenses, clawback assistance costs, and personal reputation expenses

  • Claims reported coverage

  • No ‘willful act’ exclusion

  • Criminal proceedings included in the definition of claim

  • Subsidiary additions threshold lesser of 20% underwritten employee count or 5,000 employees

  • Bordereau or individual notice options for non-specified claims

  • No panel counsel requirement: option to use AIG panel counsel at pre-negotiated rates without jurisdiction limitation

  • No ‘necessary’ condition for defense costs

The scenarios described herein are offered only as examples. Coverage depends on the actual facts of each case and the terms, conditions and exclusions of each individual policy. Anyone interested in the above product(s) should request a copy of the standard form of policy for a description of the scope and limitations of coverage.

Downloadable Materials

Download PDF [55.2 kb]

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aig-statement-series-highlight-sheet.pdf
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application/pdf
AIG Statement Series
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