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Directors and Officers (D & O) Insurance

What is Directors and Officers (D & O) Insurance?

Director and Officer Liability Insurance, commonly known as D&O Insurance, is a specialized type of insurance policy that provides protection to individuals who serve as directors and officers of a company or organization. This insurance safeguards these individuals from personal financial losses that may arise if they are sued for alleged wrongful acts, errors in judgment, or mismanagement in the course of their duties as leaders within the organization. D&O insurance is designed to help attract and retain talented individuals to take on these roles, as it reduces the personal financial risks associated with legal actions and lawsuits.

What does Directors and Officers (D & O) Insurance cover?

D&O Insurance offers coverage for a range of legal liabilities that directors and officers may face while fulfilling their roles. This coverage typically includes legal expenses, such as attorney fees and court costs, as well as the costs associated with judgments or settlements if the insured individuals are found liable. Common claims covered by D&O insurance encompass allegations of breach of fiduciary duty, mismanagement, securities fraud, discrimination, wrongful termination, and other legal actions related to corporate governance. D&O insurance may consist of multiple components, including protection for individual directors and officers, reimbursement to the company for indemnification payments, and coverage for the organization itself in the case of securities claims.

Commonly Asked Questions

What is a "severability clause" in a D&O Insurance policy?

A "severability clause" is a provision commonly found in Director and Officer Liability Insurance (D&O Insurance) policies. This clause is included to protect innocent directors and officers if one or more...Read More

What is the difference between Side A, Side B, and Side C coverage in D&O Insurance?

Side A, Side B, and Side C coverage are distinct components within a Director and Officer Liability Insurance (D&O Insurance) policy, each serving a specific purpose in the protection of...Read More

What is the "Hammer Clause" in D&O Insurance?

The "Hammer Clause" is a provision commonly found in Director and Officer Liability Insurance (D&O Insurance) policies. It is also known as the "Consent-to-Settle Clause" or "Cooperation Clause." The Hammer Clause defines the circumstances...Read More

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