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 for
the policy period effective for June 30, 2008 to June 30, 2009.
| INSURANCE | LIMIT | UNDERLYING | ||||||||||
| COMPANY | COVER | ($MILL) | ($MILL) | |||||||||
Corporate Officers & Directors
Assurance Ltd. |
Side A | 25 | nil | |||||||||
XL Insurance (Bermuda) Ltd. |
Side A | 25 | 25 | |||||||||
ACE Bermuda Insurance Ltd. |
Side A,B,C | 15 | 50 | |||||||||
Zurich American Insurance Company |
Side A,B,C | 15 | 65 | |||||||||
Allied World Assurance Company Ltd. |
Side A,B,C | 20 | 80 | |||||||||
Arch Insurance (Bermuda) |
Side A,B,C | 25 | 100 | |||||||||
Max Bermuda Ltd. |
Side A,B,C | 15 | 125 | |||||||||
National Union Fire Insurance
Company of Pittsburgh , Pa |
Side A,B,C | 10 | 140 | |||||||||
Starr Excess Liability Insurance
International Limited |
Side A,B,C | 25 | 150 | |||||||||
Axis Specialty Limited Bermuda |
Side A,B,C | 25 | 175 | |||||||||
Corporate Officers & Directors
Assurance Ltd. |
Side A | 25 | 200 | |||||||||
XL Insurance (Bermuda) Ltd. |
Side A | 15 | 225 | |||||||||
Starr Excess Liability Insurance
International Limited |
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.