As the world is becoming more and more transparent, company directors and officers are held responsible for their actions and decisions, while serving the term in the office. These people have to put their assets at stake if tested in the courts.
D&o insurance offers adequate cover to safeguard the interests and rights of directors and officers in case they met with unpleasant circumstances. D&o cover also secures the interests of the company along with its authorized people.
The clauses of the insurance company provide reimbursements to any director/ officer / employee in case they are held liable for any wrongful act. Here, wrongful act refers to breach of the duty, trust, neglect, error, misstatement, omission or breach of authority committed by a director, officer or employee.
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