Directors & Officers Liability

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Directors & Officers Liability Insurance Covers

  • Court awarded Damages
  • Defense Costs.
  • Breach of duty to minority shareholders.
  • Workplace discrimination and harassment issues.
  • Civil fines and Penalties wherever insurable by LAW
  • Inadequate/inaccurate financial reporting or disclosures
  • Cover for all persons in a managerial role on an unnamed basis.
  • Out of Court Settlements
  • Public Relations Expenses
  • Legal costs for Investigations/Inquiries

How to Ensure Claims are Paid?

Ensure Retroactive Coverage

Claims pertaining to a period before the retroactive date are not covered. If there is a break in the renewal of D&O insurance then the retroactive date is reset to the start date of the new insurance. Ensure timely renewal and carry forward of retroactive coverage.

Declare known issues

Claims that come about from an issue that was known before the insurance was bought are rejected. This can further make the policy voide for non-disclosure. Report all known issues and outstanding claims in the proposal form.

Set high level of major shareholder exclusion

Litigation by major shareholders is excluded. The insurance carries a definition of major shareholders, generally linked to shareholding. The limit can vary between 15 and 30%. We can prevent rejection on this ground by increasing the major shareholder limits to cover most investors.

Why Policy Nivesh

We are not selling anything online rather just educate customer about the product features , coverages, exclusions , claim settlement and all other things where customer get confused while buying any insurance/loans etc. If customer is satisfied with our product details than may ask for competitive quotes from various insurers.

Frequently
Asked Questions

Director and officer policy protects the director and officers of a company against vulnerabilities of the following nature , although not restricted to these –

  • Claims levied by shareholders
  • Accounting irregularities
  • Cases of sexual harassment and discrimination
  • Matters related to corporate governance
The premium rate of D & O insurance is majorly decided upon the size of the company, the profile of the director or the supervisor officer, the sum insured, nature of business and the past history of the company.
The scope of D & O liability insurance policy is quite wide that ranges from losses incurred by the organization to cost of legal advice, law suits etc. In order to get a better understating of the scope of the policy, do check with your insurer regarding the same.
The following personnel, persons or entity can file a law suit against the director or officer of an enterprise –

  • Present or former employees of a company
  • Public and Regulatory bodies
  • Customers
  • Competitors
  • Shareholders/Stakeholders
The key exclusions under the directors and officers liability policy is as under :

  • Prior claims and litigations
  • Bodily injury and property damage claims
  • Guilty of partaking in illegal activities or practices
  • Pollution claims

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