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Tokio Marine Seguradora, one of Brazil's largest insurers and a subsidiary of Japan's Tokio Marine Holding, launched civil responsibility coverage for executives, known as D&O, according to local insurance outlet Segs.
"The new product was created to serve the needs of the corporate market, allowing a continuity of businesses in case of a wrong managerial decision," said Felipe Smith, executive director of corporate products.
Companies can have additional coverage to protect their executives in cases of blockade or seizure of properties, restrictions of liberty, deportation and extradition, the report said.
The product also allows adding coverage for companies' accountants, risk managers, auditors and for the costs of investigations, emergencies and moral hazards of dealing with a crisis as well as public relations services.
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