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D&O Echo

Enhanced Directors and Officers excess cover – exclusively for Marsh clients.

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D&O Echo is an innovative excess Directors and Officers (D&O) insurance coverage solution for Marsh clients. D&O Echo offers a single layer of up to GBP/USD/EUR 100 million of capacity attaching in excess of GBP/USD/EUR 25 million with a streamlined placement mechanism that provides unique coverage generally not available to directors and officers in the current market.

Governments and regulators around the world are increasing efforts to apply greater scrutiny on corporate and individual conduct. As a result, businesses now face an increased exposure to regulatory investigations and event-driven claims arising from issues such as cybersecurity, climate change, artificial intelligence. D&O Echo helps companies access additional insurance capacity and coverage certainty, supporting their journey towards comprehensive D&O risk resilience.

Up to USD100 million limit

Substantial limits in a single layer which allows clients to obtain competitively priced capacity without relying on several insurers to provide capacity through ‘stacking’ layers. Secure placements in a timely and efficient manner using automatic binding process.

One "Round-the-clock" reinstatement

Provides directors and officers access to additional capital when existing limits are exhausted. Benefit from peace of mind with unique coverage against a separate loss within a given policy year.

Additional sub-limit drop-down cover

D&O Echo provides additional sub-limits, matching and stacking on top of all primary sub-limited coverages. Enjoy increased protection for elements of coverage which are typically restricted by D&O insurers, such as Emergency Costs.

Efficient claims management

Increase effectiveness and responsiveness by reducing the number of agreement parties involved in complex claims. Negotiate costs and settlements with a maximum of two insurers for the whole D&O Echo limit.

Attachment point wording

D&O Echo insurers will automatically pay the claim as soon as covered loss reaches their attachment point, regardless of the underlying insurers’ willingness or ability to pay the claim.

Global coverage and financial strength

Access comprehensive protection worldwide, with capacity admitted in any territory licensed by Lloyd's. Claims are payable directly into these territories.

Who is this product for?

  • Public and private companies of all sizes, domiciled throughout the world (subject to licensing and sanctions).
  • Both commercial and financial institutions.
  • Most major industries (Excluded activities: Thermal coal, weapons/firearms, recreational cannabis, arctic drilling/oil sands, fund administrators, cryptocurrency, and SPACs).

Benefits:

  • Capacity: timely, efficient and competitive pricing offered by D&O Echo panel of insurers, complemented by automatic follow capacity. 100% Lloyd’s of London (AA by S&P).
  • Wording and cover: Market leading and exclusive Marsh Excess wording with enhancements.
  • Claims: Efficient claims management solution with no more than two claims agreement parties.
  • Service: Quick quote turnaround periods from insurers to ensure high level of service and timely response times.
  • Multinational peace of mind: Echo harnesses the power of the Lloyd’s of London platform to provide reassurance that excess policies will operate not only when they need it, but where they need it.

Two scenarios highlighting D&O Echo’s potential to help businesses meet their needs for excess D&O insurance.

A large public company purchased a USD100 million D&O programme. Soon after, a securities class action was filed with the potential to lead to a full limit loss, leaving directors uninsured for any future claims within that policy period. Purchasing additional limit after a notification can be challenging — in such instances, insurers may charge a large-loss load or apply coverage restrictions.

To avoid such situations, D&O Echo offers clients the option to purchase a “round-the-clock” reinstatement of limits at inception or during the policy period. As the primary and underlying layers normally do not have a reinstatement provision, the D&O Echo reinstated limit would drop down and act as the new primary.

The optional reinstatement is offered at pre-agreed additional premiums set as a % of the original premium, providing companies unique protection against a potential separate loss within a given policy year.

  1. At inception for a 7.5% additional premium; or
  2. During the policy period (for future claims only) for a 30% additional premium

Please note reinstatement is available for unrelated ‘Single Claims’ only and is only available once relevant overlying excess layers and underlying reinstatements have been exhausted.

The shareholders of a publicly listed Biotech company demanded to inspect the books and records of the firm, triggering the Books and Records Costs cover in the Primary Policy, which was sub-limited to USD 1 million. Costs quickly eroded the primary sub-limit, leaving the remaining loss uninsured. 

D&O Echo would provide an additional sub-limit to match the primary and, crucially, it would also drop down and stack on top of the eroded USD 1m primary sublimit. D&O ECHO enables the company to access additional capital which will drop down once primary sub-limit has been exhausted. For companies with considerable exposures, this helps ensure they have sufficient financial protection.

Watch our three minute video to learn more about D&O Echo and its benefits

Marsh D&O Echo

If you would like to learn more about Marsh D&O Echo, and how we can support you navigating through the D&O market, please get in touch or contact your local Marsh advisor.

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Our people

Helen Haggie

Helen Haggie

Head of Management Liability, FINPRO, Marsh Specialty UK

  • United Kingdom

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Shaunna Bell

Management Liability Placement Leader, FINPRO, Marsh Specialty UK

  • United Kingdom

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Mauricio Manrique

Senior Placement Broker, FINPRO, Marsh Specialty UK

  • United Kingdom