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Directors’ and Officers’ Liability Insurance has become and integral part of the insurance programme of many companies due to the increasingly onerous nature of duties and responsibilities placed on directors and officers. Also, the Companies Act, 1956, generally prohibits companies from indemnifying directors and officers in breach of duty situations, potentially making them personally liable to make good the loss. HDFC ERGO General Insurance Company’s D&O Liability Insurance provides the perfect answer.


What is included?
These are automatically included with every D&O Liability policy:

	Management Liability.
	Management indemnification.
	Non-Profit outside directorship liability.
	Estates and legal representatives of incapacitated or deceased insured individuals covered.
	Spouses Liability extension.
	Cover for the creation or acquisition of new subsidiary companies (effective from the date of acquisition or creation)

Who is protected?
Our policy offers automatic protection for past, present and future to:

	Directors.
	Officers.
	Company Secretaries.
	Other persons employed in an executive capacity.

Policy Features:

	World-wide coverage
	Broad definition of Insured Person
	Extended claims definition
	Expanded definition of loss
	Advancement of defence costs
	Final adjudication language
	Directors/officers retain duty to defend
	No enforced settlement/senior counsel clause

Key Exclusions:

	Pending or prior litigation, demands or judgements.
	Circumstances notified under a prior insurance policy.
	Claims brought by one insured individual or the insured organization against another insured individual other than:
	1] Derivates action brought by shareholders or regulatory bodies.
	2] Employee related actions of wrongful termination, denial of natural justice and defamation relating to wrongful termination,
	discrimination or sexual harassment claims.
	3] Claims by insured individuals for contribution of indemnity.
	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 derivate action.
	Deliberately criminal or fraudulent act or omission or willful violation of statute or regulation where established at final adjudication
	Breaches of insider trading legislation.
	Illegal personal profits, remuneration or advantage where established in fact.

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