This document is provided for general informational purposes only and does not constitute legal, tax, accounting, insurance, brokerage, risk management, or other professional advice. You should consult your own legal counsel or other qualified professional advisors regarding your specific circumstances, and receipt of this document does not create any client, advisory, fiduciary, brokerage, or other professional relationship with Alliant Insurance Services, Inc. This document is provided “as is” without warranty of any kind, and Alliant Insurance Services, Inc. disclaims any liability for any loss or damage arising out of or relating to reliance on this document.
News Release
Announcing the 2026 Nareit® D&O Enhancement Endorsement Strengthening Protection for REIT Directors and Officers in a Rapidly Evolving Risk Environment
By Alliant Property & Casualty
In 2025, Nareit, Alliant Insurance Services, and Arch Insurance undertook a comprehensive review of the Directors & Officers (D&O) liability insurance program available exclusively to Nareit corporate members. This evaluation focused on emerging risk trends, evolving regulatory pressures, and the ongoing need for specialized protection tailored to the REIT industry. The result: a newly enhanced D&O endorsement, released Jan. 1, 2026, and now available to all participants in the Nareit primary D&O insurance program.
An Enhanced Policy Built For Today's REIT Challenges
Crafted through collaboration between Nareit, Alliant, and Arch, the 2026 enhancement endorsement corresponds to contemporary real estate claims trends and strengthens protection for both individual directors and officers as well as REIT entities facing securities-related exposure.
Key Enhancements Include:
Expanded definitions of Claim, Securities Claim, and Wrongful Act
Updated Insured Person definition to include Chief Information Security Officer (CISO) or equivalent cybersecurity leadership
More favorable exclusionary language
Revised fraud exclusion wording
Enhanced defense and settlement verbiage
New Crisis Fund Coverage sub-limit
New Asset Protection Coverage sub-limit
These updates, among other enhancements, ensure members receive broader, clearer, and more responsive coverage at a time when REITs face heightened scrutiny and rapidly evolving liability risks.
About The Nareit D&O Program
Nareit U.S. corporate members gain access to a best‑in‑class D&O program backed by industry-leading expertise in REIT liability, underwriting, and claims management.
Why the Nareit Program Stands Apart
Alliant, through its acquisition of Crystal & Company, has been a trusted advisor in providing unique insurance solutions to Nareit members for over 30 years.
Arch Insurance, the endorsed carrier since 2009 and an A+ XV AM Best rated company, delivers a proprietary D&O policy specifically engineered for REITs and supports the program with a dedicated REIT-focused underwriting team.
Together, Alliant and Arch offer unmatched insight into the financial, legal, and regulatory landscape affecting REITs, enabling consistent innovation and superior protection.
Through this partnership, Nareit members receive access to the Arch‑backed Directors, Officers and Corporate Liability Insurance Policy, recognized for its strength, flexibility, and industry-leading coverage.
Disclaimer that Policy Governs
This brochure is a summary of coverage for informational purposes only. The actual policy contains detailed information regarding reductions, limitations, exclusions, and termination provisions. In the event of a conflict, the terms of the actual policy will govern. Coverage is subject to underwriting, may not be available to all applicants in all states, and may vary by state.
Nareit Disclaimer:
Nareit is not an insurance company, agent, or broker, and is not licensed to sell, solicit, or negotiate insurance. The Nareit D&O Program is underwritten by Arch Insurance Company (NAIC #11150) and administered by Alliant. Nareit’s sponsorship of this program does not constitute an evaluation of the adequacy of any insurance policy for your specific needs. Members should consult with a licensed insurance professional to discuss their individual coverage requirements.
Nareit®, the National Association of Real Estate Investment Trusts®, serves as the worldwide representative voice for REITs and real estate companies with an interest in U.S. real estate. Nareit’s members are REITs and other real estate companies throughout the world that own, operate, and finance income-producing real estate, as well as those firms and individuals who advise, study, and service those businesses.
For more information about Nareit, visit REIT.com.
