Directors & Officers Cover
Directors & Officers cover, or D&O is payable to the directors and officers of a company, or to the organization(s) itself, to indemnify for losses or advancement of defense costs in certain circumstances.
This may be as a result of a legal action brought for alleged wrongful acts in their capacity as directors and officers.
This can also include protection for disputes between directors of the same company. Is is designed to protect the personal assets of the directors which may be in jeopardy in the absence of this cover.
Such coverage can extend to defense costs arising out of criminal and regulatory investigations/trials as well; in fact, often civil and criminal actions are brought against directors/officers simultaneously.