Definitions for "Directors and Officers Liability Insurance"
A form of errors and omissions insurance covering the directors and officers of corporations against suits alleging they committed wrongful act(s).
Insurance that protects directors and officers from liability claims arising out of alleged errors in judgment, breaches of duty, and wrongful acts related to their organizational activities.
Insurance that protects both a corporation and its key employees. The standard D & O policy usually includes corporate reimbursement which covers expenses insured by the directors and officers for legal costs and judgments indemnified by the corporation and personal coverage which protects individual officers and directors against claims not indemnified.