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Those who lead corporations and those who sit on boards have come to rely on directors and officers (D&O) policies for personal liability protection. But with the uncertainty that is a by-product of today's economic turmoil, it may be time to ask if traditional D&O insurance is the complete coverage that these high-level executives can count on when things go awry. Not all D&O insurance is alike; different policies have different exclusions. But there are instances where some D&O policies may leave gaps in coverage for non-indemnifiable claims. Broad-form D&O provides an extra layer of assurance because it cannot be rescinded and is specifically designed to take care of the lack of indemnification that occurs when exclusions are invoked.
Bridging D&O Gaps Cary Meiners Risk Management; Jun 2009; 56, 5; Docstoc pg. 54 Reproduced with permission of the copyright owner. Further
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