May 1, 2008

Traditional Directors & Officers (D&O) policies are not specifically tailored for companies which are the subject of change of control through merger or acquisition. Yet such a change has a significant impact on the exposures of the directors and officers of that company and their D&O insurance. While the original policy will cover the directors for several years, that period may not be enough. Plus, any residual exposures may be complicated by the fact that the company for which they acted as directors no longer exists. And, one large claim against one director could wipe our all the available cover for the others. Lifetime Run-off is a standalone policy that covers those situations up to the time that their exposure legally expires.

This audiocast will cover:

• What is Directors & Officers run-off
• What are the potential exposures
• How long can the exposures last
• What is covered by a D&O Lifetime Run-off policy

Originally Recorded By:
Jacqueline McNamee, VP, Financial Lines
 
Jacqueline is currently chief underwriting officer for commercial and financial institution management liability (which includes D&O), as well as leader of the recently formed AIU Financial Institutions (FI) Practice.  In her role as FI Practice leader, she will listen to our customers and develop products and services that meet the changing needs of this marketplace.  Jacqueline joined AIG in 1997 as the Financial Lines manager in the AIG office in Dublin, Ireland, and in 2002 she relocated to New York as a financial institutions product manager.  In 2005 this role was role was expanded to include commercial D&O.

Sudeep Roy, VP, AIU Underwriting Management and Audit
 
Sudeep Roy joined AIU as a Financial Lines (FL) underwriter in New York in 1994 and has extensive underwriting experience in D&O as well as other FL-related products. He was the FL Regional Manager for the Middle East, Mediterranean and South Asia from 1998-2002, during which time he and his team successfully launched and developed D&O and other FL products in the challenging and emerging markets of India and Israel. Sudeep has also served in a regional capacity for the FL division in the South East Asia region and helped manage and grow the D&O portfolio in that region. Sudeep is currently with the Underwriting Management and Audit division in NY and continues to provide assistance to the FL division by conducting audits as and when required.  Sudeep is a graduate of the University of Calcutta, earned an MBA from Southern New Hampshire University and a Master in International Management degree from Thunderbird.