Protect your company's decision-makers from liabilities and safeguard their personal assets in case of a legal lawsuit.
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50+ years of collective insurance experience
₹5,000 Cr+ of cumulative risks insured
Directors and Officers (D&O) policy protects directors, board members, and other individuals in management and supervisory positions from possible legal liability if they are indicted for decisions made to run a business.
This type of insurance protects the personal assets of the directors and officers along with their spouses and compensates them for any settlements or legal fees they incur as a result of lawsuits.
The D&O policy offers liability cover for company managers, officials, and directors to protect them from claims which may arise from the decisions and actions taken within the scope of their regular managerial duties.
When a company indemnifies (provides financial protection) its directors or officers for a covered claim under the policy, Side B Coverage ensures that the company is reimbursed for the expenses they've incurred during the process. In essence, it's an insurance policy that protects the company's financial interests by reimbursing them after they've supported their insured individuals in a legal matter.
Side C coverage basically covers the companies that are listed on the Stock Exchange. It covers the claims and liabilities arising from security-related grievances. It indemnifies the company for legal costs incurred while dealing with such claims or liabilities related to the securities traded. Thus, if the shareholders or any stakeholders sue the company for any reason related to securities traded on the stock exchange, Side C will cover costs incurred by the company in defense of the lawsuit, including legal fees, expert witness fees, and other related expenses.
Offers protection to directors & officers
Saves personal assets from lawsuits
Important for both large and small-scale businesses
Helps attract & retain the best talent
Any private or public company with corporate boards or advisory committees should have a D&O policy to protect their C-suite executives. Today, company owners are vulnerable to lawsuits from regulators, shareholders, vendors, customers, competitors, employees, and government bodies. It's one of those "must-have" policies for every company because it protects them in the event of an expensive lawsuit.
Past lawsuit history
A director or officer might face many types of financial risks as part of their job. D&O insurance provides an easy way to protect the interest of their senior officers and board members. The policy protects them from the following potential problems -
This is an article by YouStory written by Palak Agarwal and published on October, 2022
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