Company directors and officers (D&O)
While there is no single solution for protecting directors and officers from liability, D&O liability insurance can be an effective tool in mitigating overall exposure. D&O liability insurance is designed to protect a firm’s directors and officers for liability due to breaches of duty resulting from negligence, error, or omission.
D&O coverage is issued on a one-year basis for a single aggregate limit of liability. Many companies also purchase some form of entity coverage or predetermined allocation for securities law claims.
The Scope of cover Varies for Listed Companies and Unlisted companies.
Insured Person Cover
The Insurer will pay on behalf of any Insured Person the Financial Loss of such Insured Person in respect of any Claim made against such Insured Person, save to the extent that such Insured Person is indemnified by the Company.
Company Reimbursement Cover
The Insurer will pay on behalf of the Company the Financial Loss of an Insured Person in respect of any Claim made against such Insured Person, but only to the extent that such Company has indemnified such Insured Person.
A few Extension available as follows:
Preservation of Side A Limit
Subsidiaries
Emergency Costs and Expenses
Retired Directors and Officers Cover
Takeovers and Merger Run-off
Outside Directorship
Management buy-outs
Tax Liability, Bail bond costs, crisis costs, Public Relation expenses & reputation protection expenses
Extradition proceedings
Prosecution Costs
Civil fines and Penalties
Occupational Health and Safety costs
Deprivation of Assets
Pre-investigation Costs
Foreign Liberalisation
Indemnity to the company for Shareholder Costs
Derivative Investigation hearing
Interpretative counsel - Intemational Securities Laws
Environmental Violations
DISCLAIMER
The above is a brief information of the covers available under the Policy. Please request for a copy of the Insurer's Terms and conditions of the policy which shall be binding and considered as final basis for settlement of any dispute.