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Directors & Officers Liability Insurance (D&O)

Home / Corporate / Directors & Officers Liability Insurance (D&O)

This cover is suitable for those Directors & key officers who are in a decision -making position. These directors and officers in pursuance of their duties may take some actions which may be in violation of certain statutes or Indian Laws.

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  • Provides cover:
    • Against any loss that the Organization may incur, on account of mistaken actions taken in their individual capacity as Directors & Officers in pursuance of their duties under Memorandum and Articles of Association.
    • Against loss arising from claims made against them by reason of any wrongful Act in their Official capacity.
    • Legal costs & expenses incurred with the written consent of the insurers arising out of prosecution (criminal or otherwise) of any Director / officer and attendance at any investigation, examination, inquiry or other proceedings by the authority empowered to do so.
    • Expenses incurred by any shareholder of the Company in pursuance of a claim against any Director / Officer, which the Company is legally obliged to pay, pursuant to an order of a Court.
    • Provide indemnity to the estate of, legal heirs or legal representatives of the Director / officer in the event of the Director / officer becoming insolvent.
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  • The main exclusions under Section I for which no claim is payable, are loss or damage due to:
    • Any bodily injury, sickness, disease or death of any person or any damage to tangible property.
    • Dishonest, fraudulent, criminal or malicious act.
    • Personal guarantee.
    • Libel and slander
    • Personal injury and damage to property.
    • Pollution damage
    • Directly resulting from goods or products manufacture or sold by the company
    • Fines, penalties, punitive or exemplary damages.
    • Any circumstances existing prior to inception date of policy
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  • Special Conditions
    • Directors and the Company shall give to underwriter's immediate notice in writing of any claim
    • Directors and the Company shall not disclose to anyone the existence of the policy without underwrites' consent
    • Directors of the Company shall not be required to contest any legal proceedings Counsel shall advise that such proceedings should be contested.
    • Underwriters shall not settle any claim without the consents of the Directors or the Company
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  • Form Downloads
  • 1) Prospectus
  • 2) Premium Rating chart
  • 3) Proposal Form
  • 4) Claim Form
  • 5) Policy wordings
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