About Directors And Officers Liability Policy

This policy protects companies or organisations from any sort of legal liabilities that might arise if a director or officer mismanages any responsibility leading to a significant loss for the company. This policy offers protection for claims brought against directors, employees, and officers for alleged or actual duty breach, neglect, errors/misstatements in their executive/administrative capacity. The policy offers three main covers:

1. For the Directors and Officers: Pays on the behalf of the directors and officers all loss arising out of a claim for wrongful act for which coverage applies under this policy and for which the directors and officers are not entitled to indemnification from the company.
2. For the Company: Pays on the behalf of the company all loss arising out of a claim for wrongful act for which coverage applies under this policy and for which the company is permitted or required by law to grant indemnification to the directors and officers.
3. For Advancement of Legal Costs: Covers the legal costs reasonably incurred by the directors/officers in defending any claim against them before civil and criminal courts in respect of a wrongful act for which coverage applies under this policy.
4. For Regulatory Proceedings: Pays the legal costs reasonably incurred by directors/officers in respect of their attendance at regulatory proceedings

NOTE: THE BRIEF WRITE UP YOU FIND IN THIS WEBSITE FOR VARIOUS POLICIES IS ONLY A SYNOPSIS. THE DETAIL EXTENT OF COVERAGE WITH THE TERMS & CONDITIONS WILL BE SENT BY US TO YOUR MAIL ID ON REQUEST TO US. PLEASE MAIL TO CUSTOMERCARE@VIZZAFIN.COM