Being a director or an officer of a company is a high risk profession. If held personally liable for their own and fellow Directors' decisions, one could face serious financial loss through litigation from shareholders, creditors, competitors, suppliers, regulatory bodies, etc.
HDFC ERGO's Directors' and Officers' Liability policy is affordable and offers you security and protection. The policy can advance defense costs as they are incurred and provides some of the broadest coverage available on the "form of choice" of the industry.
These are automatically included with every Classic D&O Liability policy:
Pending or prior litigation, demands or judgments.
Circumstances notified under a prior insurance policy.
Claims brought by one insured individual or the insured organisation against another insured individual other than:Read More...
Deliberately criminal or fraudulent act or omission or willful violation of statute or regulation where established at final adjudication.
Claims against the fiduciaries or administrators of any retirement or employee benefit plan
Bodily injury or property damage claims.
Pollution claims other than for shareholder derivative actions
Breaches of insider trading legislation
Illegal personal profits, remuneration or advantage where established in fact.
USA securities offerings
Fines, penalties or multiple damages
Who is covered?
Broad definition of wrongful acts:
Get cover against errors, misstatements, misleading statements, acts, omissions, neglect, and breach of duty/breach of trust on part of insured individuals. And any matter claimed against insured individuals solely by reason of their serving as an insured individual.
Broad outside Directorship Liability cover:
Get worldwide cover, including USA.
The definition of claim covers:
Your choice
Insured's have the right to choose their own legal counsel Subject to HDFC ERGO's prior approval.
Defense costs provided within the limit of Liability and in advance of the final disposition of a claim.
Legal representation costs covered if a director or officer is legally compelled to appear at an official investigation into the affairs of such director or officer or the company.
Severability of all exclusions and the proposal form for insured individuals such that no fact pertaining to or knowledge possessed by any insured individual shall be imputed to another to determine available cover.
Definition of loss covers Judgments, settlements and defense costs.
Cover is available for externally appointed liquidators or receivers bringing an action against insured individuals.
Cover is available for past Directors or officers bringing an action against current Directors or officers.
Defense costs cover for Insured vs. Insured actions outside USA.
Punitive damages cover provided to the extent insurable at law.
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Awards
Secured Over 1 Crore+ Smiles
All the support you need-24x7
Catering customer needs
Transparency at its best
Awards
These are automatically included with every Classic D&O Liability policy:
Claims brought by one insured individual or the insured organisation against another insured individual other than:
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