Directors & Officers Liability Insurance

The directors and officers of any corporate shoulder many responsibilities relating to the conduct of business. Any slip can result in a suit and fastening of personal and financial liability. Even in a case where the suite is ground less, the expenses of defending it can be enormous. The risk is multiplied if the suit has arisen in a foreign country. Directors & Officers Liability Insurance Policy protects the management against the financial liabilities arising from the activities connected with the business operations.

The Financial Liabilities relating to:
  • Lapses in supervision of company operations Furnishing wrong statements of accounts
  • Decision based on erroneous judgments Mismanagement of funds
  • Incorrect and misleading statements / Information in company prospectuses, annual reports etc. Improper allotment of shares
  • Misrepresentation during takeovers, amalgamation, Changes in share holding, liquidation etc.
Other such decisions taken during discharge of financial responsibilities Features of the Policy
  • Policy of the ‘Claims made’ basis
  • Liabilities arising out of directorship in subsidiary companies cover Outside directorship can also be covered
  • Coverage possible for liabilities emanating from any where in the world Coverage for financial awards as well as legal costs
The Liabilities can emanate from numerous sources
  • Shareholders
  • Customers & clients
  • Suppliers Competitors
  • Employees Members of public
  • Government Income tax, Excise etc.

Regulatory bodies