RLI Executive Products Group Announces Enhanced Executive PlusTM Side A DIC Directors & Officers Liability Policy

PEORIA, Ill.--(BUSINESS WIRE)-- RLI Corp. (NYSE: RLI) -- RLI Insurance Company announced today that the RLI Executive Products Group has enhanced its Executive PlusTM Side A Difference in Conditions (DIC) Directors & Officers Liability Policy.

The Executive Plus policy protects the personal assets of directors and officers when the corporation cannot or will not indemnify or when other underlying insurance is nonexistent or has been exhausted. The new policy includes several coverage enhancements, such as:

• Reinstated Limits: Allows up to two reinstatements of Limit of Liability.
• Underlying Limits Exhaustion: Recognizes exhaustion of underlying limits when underlying insurer(s), entity, or any other source pays loss.
• Expanded Definition of Claim: Loss now includes any Cyber Claim.
• Expanded Definition of Insured Persons: The definition of insured persons include members of an advisory board or management committee as well as shadow or de facto directors.
• Exclusions: The single policy Exclusion is the Conduct Exclusion with financial profit being the trigger. Exclusion requires final non-appealable adjudication adverse to the Insured Person. No knowledge or Wrongful Act of any Insured Person or Entity will be imputed to any other Insured Person. All other Exclusions have been removed.
• Defense Expenses: Defense expenses have been expanded to include defense, investigation or appeal for Section 304 of SOX, Section 201 or 954 of Dodd-Frank, and Food/Drug/Cosmetic Act claims. Covered defense expenses will be advanced no later than 60 days.
• Discovery Period: Insureds have 90 days after the end of the policy period to elect the discovery period.

“We are pleased to introduce our new Executive Plus policy,” said RLI Insurance Company President & COO, Michael J. Stone. “The new policy enhancements, combined with industry-leading underwriting and claim expertise, will provide unparalleled protection for directors and officers.”

RLI is able to offer both primary and excess coverage, written as dollar-one coverage or primary Side A DIC above a tower of traditional D&O coverage, with limits up to $25 million. Specific terms and conditions of policy coverages are provided in the insurance policy documents.

ABOUT RLI

RLI Corp. (NYSE: RLI) is a specialty insurer serving diverse, niche property, casualty and surety markets. The company provides deep underwriting expertise and superior service to commercial and personal lines customers nationwide. RLI’s products are offered through its insurance subsidiaries RLI Insurance Company, Mt. Hawley Insurance Company and Contractors Bonding and Insurance Company. All of RLI’s subsidiaries are rated A+ “Superior” by A.M. Best Company, a distinction held by fewer than 10 percent of property and casualty insurance companies in the U.S. RLI has paid and increased dividends for 40 consecutive years and delivered underwriting profits for 19 consecutive years. To learn more about RLI and its 50-year history of financial strength, visit www.rlicorp.com.

View source version on businesswire.com: http://www.businesswire.com/news/home/20151113005853/en/

RLI Corp.
Chad Berberich
Vice President, Executive Products Group
(972) 677-2116
[email protected]

Source: RLI Corp.

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