This insurance policy is essential for corporations governed by a board of directors. It is designed to cover legal liabilities resulting from claims made against the directors and officers, either jointly or individually, during the policy period, due to their “wrongful acts” while performing their official duties.
Wrongful acts are defined to include but not limited to:
- Breach of duty & Breach of trust
- Error, Neglect & Omission
- Misstatement & Misleading statement
- Breach of warranty of authority
- Other acts done or wrongly attempted by any Director or Officer
Protections
- Damage to property of third party
- Injury to employees of insured
- Injury to persons due to negligence of insured
- Injury to users of property of insured
- Loss due to action or advice
- Loss due to negligence of insured
- Loss of life
- Loss of life of insured
Industries
- Aerospace & Defense Goods
- Air Freight & Logistics
- Airlines
- Auto Components
- Automobiles
- Banking
- Building Products
- Chemicals
- Commercial Services & Supplies
- Construction & Engineering
- Construction Materials
- Consumer Staples
- Containers & Packaging
- Diversified Financials
- Education
- Electrical Equipment
- Energy Equipment & Services
- Health Care
- Hotels, Restaurants & Leisure
- Household Durables
- Industrial Conglomerates
- Information Technology
- Insurance
- Leisure Products
- Machinery
- Marine
- Media & Entertainment
- Metals & Mining
- Oil, Gas & Consumable Fuels
- Paper & Forest Products
- Pharmaceuticals
- Professional Services
- Real Estate
- Retailing
- Road & Rail
- Telecommunication Services
- Textiles, Apparel & Luxury Goods
- Trading Companies & Distributors
- Transportation Infrastructure
- Utilities