Re/insurance broker McGill and Partners has launched SAIFElimits, which is a new coverage solution for corporate insolvency. The product works in tandem with a primary directors’ and officers’ policy and is triggered automatically by an insolvency event. It provides an extension that keeps protection in place for directors and officers for up to six years during the insolvency process.

Francis Kean, partner – financial lines at McGill and Partners, said: "In most situations it is the company which contracts for, procures, and facilitates the provision of D&O insurance for its directors and officers, but in the case of a corporate insolvency the company cannot fulfil this function.

“SAIFElimits addresses a number of significant consequences of this change, optimising coverage and liability protection and preserving limits for directors and officers at this critical time."

Share Story: