Directors’ and Officers’ liability protection is an optional coverage for the AdvisersGold Select™ written via a specific endorsement.
Often known as “D&O” or management liability insurance, the policy provides coverage to the directors and officers of your corporation, or to the corporation itself, as indemnification (reimbursement) for damages or advancement of defense costs in the event you are sued for alleged wrongful acts in your capacity as directors and officers of the corporation.
AdvisersGold Select™ management liability endorsement provides coverage as follows:
Claims made against senior management of your corporation, which are not the subject of the indemnification from the corporation, any investment company, third party or the corporation.
Reimbursement for the Indemnification paid to senior management by the corporation arising from a management liability claim.
Legal liability coverage for claim made against your corporation arising from a management of the corporation by the management team.
Coverage for attorney fees, attorney costs and court costs arising from an investigation or a formal administrative, arbitration or regulatory proceeding commenced by the filing of a notice of charges, formal investigative order, subpoena that is initiated by a federal, state or self-regulatory agency and results from an act or omission in the rendering of Professional Services.
The maximum limit of coverage is of $1,000,000 in the aggregate and a subject to a standard deductible of $5,000 per claim.
Coverage is subject to a retroactive limitation date.The foregoing is for illustrative purposes only. Only the policy form and endorsements themselves can provide actual coverage wording and conditions. These endorsements are subject to underwriter approval and may not be offered or available to all firms.