Question:  What is Retired Directors Assurance (RDA)?

Answer:  Retired Directors Assurance is an innovative insurance product designed to fill the gap in exposure that is created when a director retires or resigns from the board.

Question:  Why does a director need RDA?

Answer:  The statute of limitations for a director under Sarbanes-Oxley is five years and traditional D&O policies are written on a one year term.

Question:  When does the policy go into effect?

Answer:  The policy is effective the day the director retires or resigns from the board and stays in effect for six years.

Question:  When is the policy purchased?

Answer:  The policy is purchased when a director retires from or leaves the board. 

Question:  What limit of liability is available to a retired director?

Answer:  Up to $10,000,000 in individual limits.

Question:  Who will represent the retired director in the event of a claim?

Answer:  The insured selects their own counsel, subject only to consent.

Question:  Does RDA take the place of the corporations other D&O coverage?

Answer:  No, traditional D&O coverage is critical for most corporations.  RDA simply addresses the unique exposure of retired directors.

Question:  Is this product offered to ALL retiring directors?

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