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Directors and Officers (D&O) Insurance policy

£12
Word count
Template words
257
Reading time
Reading time
5 mins

Our Directors and Officers (D&O) Insurance Policy Template outlines coverage and responsibilities, safeguarding directors and officers against potential legal liabilities.

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What is a Directors and Officers (D&O) Insurance policy?

The purpose of this Directors and Officers (D&O) Insurance policy is to provide you with a flexible and customisable document to serve as a robust and effective starting point for you.

By using our Directors and Officers (D&O) Insurance policy, you can streamline your process, maintain consistency and accuracy, and save time, and it can be easily adapted to fit your specific scenario.

Best practice timescale for this to be issued
When should this policy be issued?
During onboarding / after changes / planned refresher
Issued by who, to whom
Who should issue this policy, and to whom?
Internally issued to appropriate recipients in your Company
Applicable legal jurisdictions
In which jurisdictions can this policy be used?
Great Britain & NI (United Kingdom), Worldwide

Directors and Officers (D&O) Insurance Policy

Overview

The Company agrees to maintain Directors' and Officers' liability insurance ("D&O Insurance") throughout the term of this agreement for the benefit of the Director/Officer.

Scope

Selected Directors/Officers of [Company].

General Principles

Coverage

The D&O Insurance shall provide coverage against claims arising from actual or alleged wrongful acts, errors, omissions, misstatements, neglect, or breach of duty in the performance of duties as a director or officer of [Company].

Policy Terms

The D&O Insurance policy shall provide coverage limits, terms, and conditions consistent with industry standards and reasonably acceptable to both parties.

Cooperation

The Director/Officer agrees to cooperate fully with the insurer in the event of a claim, including providing necessary information and assistance as reasonably required for the processing and defence of such claims.

Limitations

The D&O Insurance coverage shall not extend to acts or omissions that constitute fraud, criminal acts, personal gains, intentional violations of law, or actions taken in bad faith.

Notification

In the event of any claim, circumstance, or occurrence that could potentially give rise to a claim covered by the D&O Insurance, the Director/Officer shall promptly notify the insurer in accordance with the terms of the policy.

Changes in Coverage

Any changes to the D&O Insurance policy, including alterations in coverage or limits, shall be communicated to the Director/Officer in a timely manner.

This clause is subject to the terms and conditions set forth in the actual D&O Insurance policy and any applicable laws. [Company] shall provide a copy of the D&O Insurance policy or relevant details to the Director/Officer upon request.

This policy [does not] form[s] part of your terms and conditions of employment.

Version: [1.0]

Issue date: [date]

Author: [name, job title]

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directors and officers (d&o) insurance policy