Personal Directors Insurance is an effective insurance tool, meant for an individual working as a director or an officer to cover his or her liability while working in the office as the full time employee of any organization: D&o cover is applicable for all the directors and officers in below mentioned conditions:
• It is applicable for all directors and officers working in all organizations & trusts where they serve;
• Organizations or trusts they join during the period of insurance; and
• Organizations or trusts from which they resign or have resigned
Personal directors & officers insurance provide coverage for any kind of financial damages and legal defense costs. The insurance is taken on individual basis, one director can apply for one policy and indemnity has been provided to him only.
One of the interesting features of D&o insurance is that in case the indemnity is not claimed by a director, it can be further used as additional cover that would be continued for retired positions, which means that insurance for directors and officers control whether or not working is maintained.
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