LIMITS OF LIABILITY (Sum Insured)

• Covers max liability limit for any one event and aggregate limit during the policy period
• Liability limits can be chosen in accordance with estimated exposure either in INR or USD

D & O CLAIM

Arising out of any act or omission, including any error, misstatement, or neglect committed by the person covered during the Policy Period, such person may be held legally liable to pay for any judgments, settlements. There can be two different scenarios:

• Such legal liability is not required to be indemnified by the Company (i.e. Loss falls on the person)
• The legal liability is indemnified by the Company as permitted or required by law (i.e. Loss falls on the Company)

Both the situations are covered and Policy would indemnify either the individual or Company up to the limit of liability.

EMPLOYMENT CLAIM

• Claims may be brought by employees of the Company against the ‘person covered’ or the Insured Organization for reasons such as any breach of Employment Contract, Discrimination, Harassment, Workplace Torture, Wrongful Employment Decision or Wrongful Termination committed or attempted by the person covered during the Policy Period.
• Policy pays on behalf of the insured person or organisation.

DEFENSE COSTS

Policy covers legal costs or expenses incurred by the Insured Person while defending any claim made against him within the Limit of Liability.

EXTENSIONS

Upon payment of additional premium, the D & O Policy can be extended to cover outside directorship, spouse, legal heirs & representatives and initial public offering.

FLEXIBLE TERRITORY AND JURISDICTION

• Territory is the place where the cause of action occurs. Jurisdiction refers to place where the suit is preferred by the affected individual or firm.
• Both the “Territory” and “Jurisdiction” could be either India only or Anywhere in the World according to exposure.