Directors & Officers Liability insurance helps cover defense costs and damages (awards and settlements) arising out of wrongful act in serving the company, allegations and lawsuits brought against an organization's board of directors and/or officers. These types of claims have become increasingly common and directors and officers themselves could be held personally liable.
- Defense costs
- Damages and compensation awarded against director
- Interest and costs awarded against a director
The insurance covers the amount that the director or officer is legally obligated to pay, including the cost of defending any claims. The policy also covers reimbursement to the company for the costs of meeting its obligations under director’s indemnity provisions.
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