2 Answers
Best Answer
Srinivasan Mahadevan answered 3 years ago
Directors and senior management face many personal liability risks. D&O liability insurance policy provides the cover for the personal liability of directors and helps by paying the defense costs, damages and settlement costs.
Directors & Officers liability insurance typically comprises the following two insuring agreements:
Directors & Officers liability insurance typically comprises the following two insuring agreements:
- Side A – Responds when a company is unable to indemnify its directors and officers. The most common example of such a situation is when a company becomes insolvent. Side A coverage is often referred to as the “personal protection” part of a D&O Insurance contract.
- Side B – is the part of a D&O policy that reimburses a company for its indemnification obligation to its directors and officers. Side B provides for reimbursement for the company.
Srinivasan Mahadevan answered 3 years ago
Directors and senior management face many personal liability risks. D&O liability insurance policy provides the cover for the personal liability of directors and helps by paying the defense costs, damages and settlement costs.
Directors & Officers liability insurance typically comprises the following two insuring agreements:
Directors & Officers liability insurance typically comprises the following two insuring agreements:
- Side A – Responds when a company is unable to indemnify its directors and officers. The most common example of such a situation is when a company becomes insolvent. Side A coverage is often referred to as the “personal protection” part of a D&O Insurance contract.
- Side B – is the part of a D&O policy that reimburses a company for its indemnification obligation to its directors and officers. Side B provides for reimbursement for the company.
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