The professional lines insurance operation of XL Insurance (Bermuda) Ltd.?s has added fiduciary liability coverage to its directors and officers insurance policy.

The expanded ?A PLUS D&O? policy replaces XLIBL?s IDOL policy. It also provides excess difference-in-conditions coverage above an existing D&O liability policy.

Chief Underwriting Officer, XL Professional Lines for North America, Rich Banas, said: ?Similar to the development of our Employment Practices Liability insurance for large employers, we took a step back and looked at the changing landscape and emerging risk facing directors and officers. We found demand for broad form fiduciary liability insurance similar in nature to the broad form individual directors and officers liability insurance in our IDOL policy.?

Chief Underwriting Officer, XL Professional Lines, Bermuda, Sherron Williams, said the development of relevant products is fundamental to the company?s strategy to be a one-source provider of insurance to our risk management clients.

?Expanding the coverage available under this key product should position us to retain and increase our D&O client base. The coverage enhancements expand the policy to provide excess difference in conditions (DIC) coverage above a Directors and Officers Liability policy and a Fiduciary Liability policy for an insured. Further coverage enhancements also ensure broad protection for directors and officers in the time of greatest need: when they are personally liable for defence costs and settlements/judgments in this expensive area of litigation.?

The professional liability division of XL?s Bermuda Insurance Operations provides Directors & Officers Liability, Employment Practices Liability and Errors and Omissions Insurance to large corporations in a broad range of industries.