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.

  • Types of policies available under this category
    • Information not available
  • What are the perils (Cause of Loss) covered
    • 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.
  • What perils can be covered by paying extra premium
    • Information not available
  • What are the main Exclusions?
    • 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
  • Types of discounts on premium available under this category
    • Information not available
  • Basis of Sum Insured- Recommendations
    • Information not available
  • Excess and other deductibles during claim
    • Information not available
  • Claims procedure
    • Information not available
  • Other relevant information
    • 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
  • Premium calculator
    • Information not available
    • Form Downloads
    • 1) Prospectus
    • 2) Premium Rating chart
    • 3) Proposal Form
    • 4) Claim Form
    • 5) Policy wordings