Directors and Officers Liability

This coverage combines three distinct coverages within one policy form.

The first coverage is found in the Individual Insuring Agreement and provides insurance for the individual directors and officers for covered losses when the company is unable to indemnify them.

The second coverage is for the Corporate Reimbursement Insuring Agreement. This coverage reimburses the company for amounts it pays as indemnification to its directors and officers pursuant to the company’s charter, by-laws or contractual agreements.

The third coverage is Entity Insuring Agreement. This provision provides coverage for the direct exposure of the corporate entity.

Directors and Officers (not-for-profit) – Successful individuals are precisely the people not-for-profit organizations seek for their boards. However, these organizations typically operate on tight budgets and carry minimal amount of liability insurance. This coverage enhancement provides up to $1,000,000 of protection beyond existing board coverage.