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directors' and officers' liability insurance |
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directors' and officers' liability insurance Insurance a publicly-traded company purchases to reimburse senior management, or the company itself, for damages and legal expenses incurred as the result of a lawsuit for negligence. For example, if the board of directors' actions led to a massive loss for the company resulting in a lawsuit, directors' and officers' liability insurance will cover the cost of the lawsuit for the company as a whole and the individual directors. It is important to note that directors' and officers' liability insurance does not cover intentionally wrong actions, only negligence. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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OTTAWA -- Volunteer Canada announced that it is offering a Directors' and Officers' Liability Insurance. In September of 2006, AIG Passport for Directors and Officers (D&O) was introduced to facilitate the purchase of locally admitted directors' and officers' liability insurance. The personal policy provides coverage to independent directors when certain losses are not indemnified by their companies or paid by other directors' and officers' liability insurance. |
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