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Directors & Officers Liability Insurance (D&O) explained



Basic Cover (A)

INSUREDS LIABILITY (Directors and Officers liability)

The Insurer will pay on behalf of the Insured any Loss arising from any Claim first made against them during the Period of Insurance or, if applicable, during any Discovery Period or run-off period, for any Wrongful Act committed by them in the capacity as an Insured.


Basic Cover (B)

COMPANY REIMBURSEMENT

The Insurer will pay on behalf of the Company any Loss which they have indemnified the Insured for arising from any Claim first made against any Insured during the Period of Insurance or, if applicable, during any Discovery Period or run-off period, for any Wrongful Act committed by them in the capacity as an Insured. Insuring Clauses C and D will only be effective if shown as “Covered” in item 5 of the Policy.


Additional Cover (A)

EMPLOYMENT ENTITY LIABILITY

The Insurer will pay on behalf of the Company any Loss arising from any Claim (other than any United States Claim) first made against the Company during the Period of Insurance or, if applicable, during any Discovery Period or runoff period, for any Employment Wrongful Act committed by the Company.


Additional Cover (B)

ENTITY COVER (Outside entity cover)

The Insurer will pay on behalf of the Company any Defence Costs which the Company is legally liable to pay as a result of a Claim (other than any United States Claim or any Securities Claim) first made against the Company during the Period of Insurance or, if applicable, during any Discovery Period or run-off period, for any Wrongful Act committed by the Company.


https://en.inpro.ee/directors-and-officers


ASSETS AND LIBERTY COSTS INCLUDING EXTRADITION

The Insurer will, subject to their prior written consent, pay where permitted by law, the prosecution costs of each Insured to obtain the discharge or revocation of a judicial order first entered during the Period of Insurance imposing:

i) a confiscation or suspension or freezing of rights of ownership of real property or personal assets of such Insured;

ii) a charge over real property or personal assets of such Insured;

iii) temporary or permanent prohibition on such Insured from holding the office, or performing the function, of a director or officer;

iv) the restriction of the liberty of such Insured to a specified domestic residence or an official detention;

v) the deportation of an Insured following the revocation of otherwise proper and current and valid immigration status for any reason other than the conviction of such Insured of a crime;

vi) the extradition of an Insured as a result of any Wrongful Act.


MIGRATION COST

The Insurer will, subject to their prior written consent, pay on behalf of the Insured and the Company, for advice from a lawyer in regard to the legal position of any Insured during the Period of Insurance in regard to any Claim and any steps that might be taken or are appropriate and necessary to avert or minimise the risk of such Claim.


OCCUPATIONAL HEALTH & SAFETY AND CORPORATE MANSLAUGHTER COSTS

The Insurer will, subject to their prior written consent, pay Defence Costs on behalf of any Insured, incurred in defending themselves against criminal or regulatory proceedings during the Period of Insurance in respect of any actual or alleged breach of any occupational health and safety laws or regulations or corporate manslaughter legislation.


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