About Directors & Officers Liability

Claims against the Directors and Officers of companies are frequent as they and their companies face serious consequences of their decisions and the risk of being sued. It is also not very uncommon that as per the applicable Companies Acts and relevant laws they are required to have Insurance in place to protect them and their companies against lawsuits.

Directors and Officers being the key persons and incharge of the company have important duties and obligations to comply, breach of which can have significant effects on the overall wellbeing of the company as well as pose a serious risk whose magnitude becomes difficult to measure.

Providing Coverage against financial loss resulting from the wrongful acts/decisions made by the Director or Officer of the Organization:

Benefits

• Benefits
• Requirements

Covers the wrongful acts committed as the Director or Officer of the Company leading to financial loss to the company, shareholders and related stakeholders

Covers the cost and expenses resulting from the defense costs incurred by the Directors or Officers

Covers the claimants costs and court awards/damages against the Directors and Officers

In order to avail the benefits of Directors and Officers Liability Insurance, the businesses are required to furnish the following information/documents:

Proposal Form

Duly filled, signed, stamped, titled and dated proposal form. The proposal form can be obtained by contacting any of our offices

Limit of Indemnity/Insurance

Loss history for the 5 to 10 years atleast

List of Directors and Officers with their profile

Annual Financials for 2 to 3 years atleast and company profile

Note:

The above is the basic list of requirements and we may ask further information if required.