Directors & Officers Liability Insurance

Liability Insurance for the Errors, Omissions and other wrongful acts of the Directors and Officers has been available since the early 1960s.

What is at stake?

• - Legal liability of the directors and officers

• • Towards Damages and claim expenses

• • for any actual or alleged wrongful act in their capacity as directors and officers

• • On behalf of entity

• - Corporate Reimbursement

• - Protects personal assets of Directors / officers From losses

What is covered

• - Wrongful act

• - Wrong, actual or alleged act

• - Omissions / error / judgment / misstatement / misleading statement / neglect / breach of duty

• • By insured

• • While working on behalf of entity

Who is covered?

• • Director

• - Past / present / Future director, honorary director, trustee 306

• - The Company

• • Losses

• - Legal obligation for insured to pay

• • Judgements

• • Settlements

• • Defence costs

• • Pre – post judgement interest

• • Punitive / Exemplary damage (Insurable under law)

Legal Liability

• • Damages ® to pay compensation for legal liability ® to third parties ® arising out of wrongful act committed and claim made during the period of insurance  Claimants Costs and Fees ® in accordance with Indian/other Law and claimed against the insured

• • Defence costs incurred by the Insured for Investigation, defence or settlement of any claim against him with prior consent

• • Cost of representation incurred by the Insured at any Inquiry or other proceedings relating to the claim against the Insured