D & O Insurance
The Directors & Officers Insurance policy or D & O Insurance policy, as it is widely known, has been created expressly to meet any financial liabilities imposed upon the Directors or Officers in their personal capacity for any wrongful act, knowingly or unknowingly, in their respective capacity under Common Law, Corporate Law and Security Law causing financial loss to the other stakeholders of the company.
The Directors and Officers of a company are endowed with a lot of authority, and with this comes a fair share of responsibility. The Cholamandalam MS Directors and Officers Liability Insurance helps them perform their responsibilities to the fullest by ensuing that the consequences of the responsibilities are covered.
The Directors & Officers Liability Insurance policy operates under two sections.
This section shall pay the loss of each insured for a wrongful act in the insured's capacity as a director, officer or employee of the company to the extent that the company has not indemnified the insured.
This section shall pay the loss of the company for a wrongful act in the insured's capacity as a director, officer or employee of the company but only when and to the extent that the company has indemnified the insured for the loss.
* Conditions apply.
UIN no. IRDAN123P0056V01200203