Directors & Officers Liability Insurance Policy

Who is covered?
● Directors
● Officers
● Company secretaries
● Other persons employed in an executive capacity

Broad definition of wrongful acts:
Get cover against errors, misstatements, misleading statements, acts, omissions, neglect, and breach of duty/breach of trust on part of insured individuals. And any matter claimed against insured individuals solely by reason of their serving as an insured individual.

Broad outside Directorship Liability cover: Get worldwide cover, including USA.

The definition of claim covers:
● Written demands for monetary damages
● Civil law suits or criminal proceedings
● Formal investigations by regulatory bodies

Your choice - Insured's have the right to choose their own legal counsel Subject to HDFC ERGO's prior approval.

● Defense costs provided within the limit of Liability and in advance of the final disposition of a claim.
● Legal representation costs covered if a director or officer is legally compelled to appear at an official investigation into the affairs of such director or officer or the company.
● Severability of all exclusions and the proposal form for insured individuals such that no fact pertaining to or knowledge possessed by any insured individual shall be imputed to another to determine available cover.
● Definition of loss covers Judgments, settlements and defense costs.
● Cover is available for externally appointed liquidators or receivers bringing an action against insured individuals.
● Cover is available for past Directors or officers bringing an action against current Directors or officers.
● Defense costs cover for Insured vs. Insured actions outside USA.
● Punitive damages cover provided to the extent insurable at law.