Directors And Officers Liability Insurance

1. Past, present, and future directors
2. Employees and volunteers in a managerial/supervisory capacity, audit committee, risk committee
3. President/CFO/CEO/Company Secretary
4. Non-profit organizations: President/Secretary/Treasurer

1. Personal liability: property, cars, assets, savings, and pension funds are at risk
2. Spouse, heirs, and estates (may be named in a suit)
3. The financial implications of defense costs could be catastrophic
4. No other insurance policy will cover D&O exposure should your assets be frozen; are you able to cover
5. Costs of schooling, housing, utilities, and personal insurance

1. Claims following “*wrongful acts ” by directors. Awards, damages, and approved settlements to
2. Third parties
3. Costs, charges, and expenses incurred by the insured to successfully defend allegations of any criminal act, willful misconduct, breach of trust, reckless trading, or breach of authority by directors

*Wrongful Act: breach of duty, error, omission, misstatement, or misleading statement by the insured in their capacity as directors

Shareholders: accounting fraud, dividend declaration, financial performance (or lack thereof), breach of fiduciary duties

Inadequate disclosure, insider trading, investment/loan decisions, bankruptcy, mergers, and acquisitions

Employees: breach of contract, compensation duties, defamation, discrimination, employee benefits, employee conditions, failure to hire or promote, harassment, whistleblowing, wrongful termination

Competitors: anti-competitive violations, business interference, contract disputes, copyright/patent/trademark infringements

Customers: contract disputes, debt collection, fraud, refusal of credit

Liquidators / administrators / creditors / regulators / government

1. We encourage internal mechanisms for good governance.
2. We will source quotations, evaluate, and recommend underwriters to achieve the highest benefit at the best cost.
3. Once the cover is effected, this policy should never lapse as it then exposes you to long-tail claims, as exposes past directors and officers.
4. The Dawit team will be available to assist in the claim process to ensure settlement.

1. Once the D&O policy is placed, keep the policy current. When it lapses, and a gap follows, history is forgotten, and actual exposure to past directors exists.
2. As soon as you become aware of a situation that may result in a claim, please file a claim notice. This way, you avoid being time-barred in claim reporting.