Directors And Officers Liability Insurance
Coverage when a director or officer of a company commits a negligent act or omission, or misstatement or misleading statement, and a successful libel suit is brought against the company as a result. Usually a large deductible is required. The policy provides coverage for directors' and officers' liability exposure if they are sued as individuals. Coverage is also provided for the costs of defense such as legal fees and other court costs.
Popular Insurance Terms
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Period of time of insurance coverage. If a loss occurs during this time, insurance benefits are paid. If a loss occurs after this time period has expired, no insurance benefits are paid. ...
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