Definitions and descriptions of insurance within the category of Directors and Officers-Company Reimbursement can vary significantly. I encourage members to investigate their insurance policy to be satisfied that coverage meets their needs. I will emphasise that the adage "you get what you pay for" ...
insurance company- a financial institution that sells insurance insurance firm,insurance underwriter,insurer,underwriter nondepository financial institution- a financial institution that funds their investment activities from the sale of securities or insurance ...
Side A coverage covers directors and officers for claims where the company refuses to or is financially unable to pay forindemnification. This can occur, for example, if the company has declared bankruptcy. Under Side A coverage, the individual officer is the one who's insured, and it's thei...
While D&O is designed to offer protection for the company and individual directors and officers of the company, Key Person Insurance is a personal lines coverage in which the company is named as a beneficiary. The intent of Key Person Insurance is to provide the company with time to find a ...
Directors & Officers Liability Insurance (D&O) is one of the least understood types of insurance, yet one of the most important. Australia is home to some of the world's largest Directors & Officers Liability Insurance claims, and the breadth of risk exposure for company directors and officers...
The Company and the Subsidiaries are insured by insurers of recognized financial responsibility capability against such losses and risks, and in such amounts as are customary in the businesses in which the Company and the Subsidiaries are engaged, including, but not limited to, directors and ...
When someone serves on a business’s board of directors or is a company officer, they represent that organization. If their actions are perceived to have an adverse effect on the company, they’re vulnerable to lawsuits for those alleged wrongful acts. Directors and officers (D&O) insurance cov...
the company at a higher price. The angel investors, who have no board seats, are suing the company alleging that the board of directors did not perform sufficient due diligence and undervalued the company. This results in a significant loss for shareholders. The parties settle for $1,400,000...
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There are three types of directors and officers insurance, referred to as sides: Side A: Covers company directors and officers when the company can’t reimburse them. Side B: Reimburses the company after it compensates a director/officer for loss. Side C: Provides direct coverage of the busi...