Directors and Officers (D&O) Liability

Director and Owner’s Liability Insurance covers the liability of the members of the board of directors which may arise due to wrongful acts in their managerial capacity. This provides coverage to past, present and future directors; officers and employees of the organisation against alleged breach of duty, neglect, misstatements or errors in their official capabilities.

Who is covered?

1. Present, Past and Future directors, officers, member of board of directors, management committee member, supervisory board members etc
2. Covers any decision made by legal heirs of directors, officers and the managers
3. Shadow director
4. Any person listed as the perspective director in the prospectus of public offering of a company

What is covered?

1. Defence Costs
2. Breach of duty or discrimination charges
3. Exposure due to mergers and acquisitions
4. Litigation due to bankruptcy
5. Breach of conduct etc

What are extensions?

1. Asset and Liberty costs
2. Kidnap and Response cover
3. Investigation expenses
4. Special Excess Limit per non- executive director
5. Crisis communication cover etc

What are the exclusions?

1. Dishonesty.
2. Misuse of company’s fund
3. Personal Profit
4. Prior or pending ligation or notice
5. Claims covered by other insurance
6. Standard Exclusions (War, Invasion & radio activity etc)