EX-99.1 11 l21828aexv99w1.htm EX-99.1 EX-99.1
 

EXHIBIT (99-1)

Summary of Directors and Officers Insurance Program

 

 

P&G Directors & Officers Insurance Program Summary

This summary states the general effect of the Company’s Directors & Officers Insurance Program.

                                     
 
INSURANCE COMPANY
    POLICY
PERIOD 		    COVER     LIMIT
($MILL)
 		    UNDERLYING
($MILL)
  
 
CODA
    June 30, 2006-June 30, 2007     Side A       25       nil  
 
XL
    June 30, 2006-June 30, 2007     Side A       25         25    
 
ACE
    June 30, 2006-June 30, 2007     Side A,B,C       25         50    
 
AWAC
    June 30, 2006-June 30, 2007     Side A,B,C       25         75    
 
Arch
    June 30, 2006-June 30, 2007     Side A,B,C       25         100    
 
Starr
    June 30, 2006-June 30, 2007     Side A,B,C       25         125    
 
Axis
    June 30, 2006-June 30, 2007     Side A,B,C       25         150    
 
XL
    June 30, 2006-June 30, 2007     Side A,B,C       10         175    
 
Max Re
    June 30, 2006-June 30, 2007     Side A,B,C       15         185    
 
CODA
    June 30, 2006-June 30, 2007     Side A       25         200    
 
XL
    June 30, 2006-June 30, 2007     Side A       15         225    
 
Starr
    June 30, 2006-June 30, 2007     Side A       10         240    
 
TOTAL
                  250              
 

Note- “Side A coverage” refers to Directors & Officers (“D&O”) insurance coverage that provides direct coverage to insured directors and officers for claims for which the insured company is unable or unwilling to indemnify the insured individuals. For example, the law in many states prohibits a company from indemnifying its directors or officers for shareholder

 

 

derivative claims. “Side B coverage” refers to D&O coverage that indemnifies the insured company or corporation, typically in excess of a deductible, for sums that the company or corporation spends to indemnify insured directors or officers for allegedly wrongful acts covered by the terms of D&O insurance. “Side C coverage” refers to direct entity coverage provided to the insured company or corporation itself when a claim is brought against the company or corporation itself for allegedly wrongful acts covered by the terms of D&O insurance.