Directors and Officers Liability Insurance Policy

Directors and Officers Liability Insurance Policy

Director Liability Insurance

Directors and Officers Liability Insurance Policy

The directors and officers of any corporate shoulder many responsibilities relating to the conduct of business. Any slip can result in a suit and fastening of personal financial liability. Even in a case where the suit is groundless, the expenses of defending it can be enormous. The risk is multiplied if the suit has arisen in a foreign country. Directors and Officers Liability Insurance Policy protects the management against the financial liabilities arising from the activities connected with the business operations.

Features of this policy

  • Policy on ‘claims made’ ┬ábasis.
  • Liabilities arising out of directorship in subsidiary companies covered.
  • Outside directorship can also be covered.
  • Coverage possible for liabilities emanating from any where in the world.
  • Coverage for financial award as well as legal costs.

What liability does this policy not cover

  • Prior and pending claims at the commencement of policy
  • Dishonest and fraudulent acts.
  • Pollution liability.
  • Bodily injury.
  • Property damage.
  • Insured Vs insured i.e. suits from company, fellow directors etc.
  • Illegal personal profit and remuneration.
  • Insider trading.

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Posted in General Insurance.

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