DIRECTORS AND OFFICERS
Directors and officers (D&O) liability insurance is insurance coverage intended to protect individuals from personal losses if they are sued as a result of serving as a director or an officer of a business or other type of organization. It can also cover the legal fees and other costs the organization may incur as a result of such a suit.
The regulatory environment facing the directors of companies today is rigorous, and their responsibilities onerous. An expert advice from Vitality Insurance team can help you pick the right D&O Policy with adequate coverage.
It is offered by the D&O policy for a standard indemnification provision, which puts officers and directors in a risk-free zone against losses because of their role in the company.
When a claim is filed, D&O insurance policies can provide coverage for legal cost against a variety of claims. It provides financial compensation.
In case of the firm's bankruptcy, if the Director is held personally legally responsible for unpaid corporate taxes, it can be covered under D&O liability insurance policy.
Directors and officers liability insurance covers an extensive area of litigation that could arise from shareholders, customers, employees, vendors and the general public. The D&O insurance also covers lawsuit arising out of the acts of another company.