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It protects the personal assets of corporate directors and officers, and their spouses, in the event they are personally sued by employees, vendors, competitors, investors, customers, or other parties
Key Feature
Insured's legal liability to pay compensation to third party in respect of loss resulting from any Wrongful Act committed by Directors and Officers in their capacity as a Director and Officer (including claimants costs fees and expenses) in accordance with the law of country
Cover is provided on Indemnity/loss limit (AOA & AOY) basis
On payment of additional premium, add on covers can be opted for
Coverage
Directors and Officers Liability insurance primarily covers:
Directors & Officers Liability Coverage to protect the Directors and Officers against their legal liability to pay compensation to third party in respect of loss resulting from any Wrongful Act committed by Directors and Officers in their capacity as a Director and Officer for which they are not indemnified by the Insured organization.
Organization Reimbursement Coverage to pay on behalf of the Insured Organization such Loss for which Insured Organization grants indemnification to the Insured Person (Directors and Officers), as permitted or required by law.
It also covers the legal cost and expenses incurred by the Insured within the Limit of Indemnity.
It covers past, present and future Directors along with heirs, estates & legal representatives and spousal liabilities.
Add On Covers
On payment of additional premium, the following coverage can be opted:
Outside Directorship Endorsement
Pollution Defence cost liability Extension
Crisis Communication Cover
Legal Representation Expenses Extension
Risk Management Extension
Auto Inclusion of New Subsidiaries
Exclusion
Fines, penalties, punitive and /or exemplary damages
Deliberate, willful non-compliance of statutory requirements
Seepage & Pollution
Proved Criminal Wrongs, Dishonesty & Fraud
Major Shareholder (typically 10%) exclusion
Personal/Improper gains
Insured V/s Insured
Bodily Injury and property damage
Prior and Pending Act/Claims
Intellectual Property Rights (IPR)
Future offering of securities
Insider Trading & Money Laundering.
Commission and Bribes
