Trisura Guarantee Insurance Company is pleased to announce the introduction of a new insurance product to its line of Specialty Insurance Solutions. A Side A DIC Policy is used to further protect individual Directors and Officers from claims arising out of the execution of their roles in the board room. The policy broadens the scope of coverage available to Directors and Officers by offering coverage for non-indemnified loss when the primary D&O Insurance program either excludes coverage for a claim or the primary insurance carriers are unable to provide coverage due to insolvency.
Trisura’s Side A DIC policy offers market leading broad coverage with only one exclusion, that still provides defense costs until a final adjudication on the action has been reached. This allows corporations of any nature to be able to recruit and retain the best available Board members by demonstrating their commitment to indemnify and protect them in the case of litigation.
“Our brokers are always telling us that they enjoy doing business with the team at Trisura and want to find more opportunities to work with the team through the launching of new products, and this is another response to that request.” said Richard Grant, Senior Vice-President of Specialty Insurance Solutions. He added, “We see a variety of companies consider and purchase this coverage, it is no longer a policy that is only considered by publicly traded companies. We have also seen private companies and large non-profit organization add this to their insurance program as a way to transfer risk and attract elite Board members to help guide their organizations.”
Trisura Guarantee Insurance Company is a Canadian specialty insurance and surety company with offices in Toronto, Montreal, Calgary, Halifax, Quebec City and Vancouver. Trisura provides customized solutions and expertise through a select broker network and is uniquely positioned to satisfy mid-market risks in Contract Surety, Commercial Surety, Directors’ and Officers’ Liability, Fidelity, and Professional Liability including Media Liability, Cyber Liability and programs.