Underwriters glean valuable information from reviewing the financial statement notes that helps them to assess an organization’s overall risk profile.
A D&O insurance policy consists of multiple insuring agreements, typically known as Side A, Side B, and Side C. The purpose of this article is to describe the value of D&O insurance by offering a description and claims example of each insuring agreement.
Side B coverage in a D&O insurance policy is all about indemnification. It’s purpose is to financially protect the insured organization when it indemnifies its directors and officers for loss due to a claim. Indemnification is the action of indemnifying, of reimbursing or compensating, a party for loss suffered.
Why is Side A coverage on a D&O policy so important to directors and officers?
The Duty to Manage. Any judgement as to whether or not directors or officers have acted as they should is assessed by the legal system in light of their legal duties. Have they acted as they agreed to when …
When directors and officers breach their duties or fail to perform their functions, legal action can be brought against them by different parties. Understand what are the rules governing directors and officers and where potential liabilities may arise.
Financial statements provide valuable insight into an organization’s financial stability and expectations, management strength, and corporate governance, all of which are part of a company’s risk profile.
There are three tools available to directors and officers for protecting their personal liability. These tools fit together to become a comprehensive indemnity and insurance program. Understand how these tools work together and where D&O insurance fits into a larger indemnification program.
Underwriters glean valuable information from reviewing the financial statement notes that helps them to assess an organization’s overall risk profile.
A D&O insurance policy consists of multiple insuring agreements, typically known as Side A, Side B, and Side C. The purpose of this article is to describe the value of D&O insurance by offering a description and claims example of each insuring agreement.
Side B coverage in a D&O insurance policy is all about indemnification. It’s purpose is to financially protect the insured organization when it indemnifies its directors and officers for loss due to a claim. Indemnification is the action of indemnifying, of reimbursing or compensating, a party for loss suffered.
Why is Side A coverage on a D&O policy so important to directors and officers? Read below and watch the video to learn about what is sometimes called an ‘insurance of last resort’. What is Side A coverage? Side A coverage, rather than side B or side C coverage refers to coverage for directors and …
The Duty to Manage. Any judgement as to whether or not directors or officers have acted as they should is assessed by the legal system in light of their legal duties. Have they acted as they agreed to when …
When directors and officers breach their duties or fail to perform their functions, legal action can be brought against them by different parties. Understand what are the rules governing directors and officers and where potential liabilities may arise.
Financial statements provide valuable insight into an organization’s financial stability and expectations, management strength, and corporate governance, all of which are part of a company’s risk profile.
There are three tools available to directors and officers for protecting their personal liability. These tools fit together to become a comprehensive indemnity and insurance program. Understand how these tools work together and where D&O insurance fits into a larger indemnification program.
