Directors And Officers Liability

This policy (D&O) protects directors and officers against claims brought against them in their personal capacity by shareholders or stakeholders.

Overview

This policy (D&O) protects directors and officers against claims brought against them in their personal capacity by shareholders or stake-holders.

The basis of the cover is Wrongful Act. This includes any actual or alleged breach of contract, breach of duty, breach of trust, act, error, neglect, omission, misstatement, misleading statement, breach of warranty of authority, or any claim against them for serving in such capacity.
This protection is restricted by limiting it to acts done by the Directors individually or collectively in the discharge of their duties, solely in their capacity as Directors and Officers of the Company.
The policy is an annual policy.
The range of individuals who can be regarded as past or present Directors or Officers is wide so cover is provided for those individuals who are, were, or will be Directors and Officers of the parent, supervisory and subsidiary boards. Provision is made for automatic inclusion of newly acquired or created companies.
Cover for the company itself for circumstances where the company reimburses the Directors and Officers through the Memorandum or Articles of Association.
Legal defence costs in defending an allegation are payable by the policy prior to the final resolution of the claim.