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Know your policy
Everything you need to know
What is D&O Insurance?
D&O insurance indemnifies directors, officers and sometimes the company (if permitted) against claims alleging breach of duty, misrepresentation, regulatory violations, or governance failures. It covers defence costs, settlements and sometimes securities claims – protecting personal wealth and helping companies recruit leaders. IRDAI provides standard guidance/wordings for management liability programs.
Why Is This Policy Vital?
Regulatory landscape in India is complex – SEBI, RBI, IRDAI and other regulators can trigger costly probes. D&O covers investigation costs and legal defence.
Rising D&O claim notifications across India make personal protection essential to attract experienced board talent.
M&A, insolvency or disclosure mishaps can result in shareholder suits – cover helps preserve board stability and corporate governance.
Know your policy
Understand your insurance before buying
Who Needs D&O?
Listed Companies & Large Private Firms
Governance and shareholder exposure.
Startups & VC-backed Firms
Investor disputes and growth-phase governance risks.
Financial Institutions & NBFCs
Regulatory enquiries and supervisory actions.
Trustees & Non-Executive Directors
Fiduciary duty exposures.
Professional Boards (Societies, Foundations)
Reputation and legal risk protection.
Types / Add-ons Commonly Offered
Side A: Company Reimbursement
If permitted.
Side B: Defence for Individual Directors & Officers
Personal liability protection.
Regulatory Investigation Costs Coverage
RBI/SEBI/IRDAI probes.
Securities & Shareholder Claims Extension
Extended claim coverage.
Employment-related Practices
D&O + EPLI interplay.
Run-off / Extended Reporting Period
For ex-directors.
What D&O Pays For
Defence Costs for Directors/Officers
Legal representation coverage.
Settlements & Damages for Wrongful Act Claims
Settlement coverage.
Regulatory Investigation Costs & Fines
Where endorsed.
Securities Class Action Defence & Settlements
Where applicable.
Employment-related Liabilities
If endorsed.
Crisis PR & External Counsel Costs
Optional add-on.
Indemnity of Company for Legal Costs
If lawful.
Retroactive Cover for Past Acts
If agreed.
Inclusions & Exclusions
✓Inclusions
- Defence & investigation costs for alleged wrongful acts by directors/officers.
- Settlements & awards within policy limits.
- Run-off / extended reporting options for ex-directors (if bought).
- Employment practice defence for executive actions (if endorsed).
✗Exclusions
- Fraud / Dishonesty / Personal profit obtained illegally.
- Criminal acts that result in conviction (post-conviction exclusions).
- Prior known claims not disclosed at inception.
- Contractual penalties and fines (unless endorsed).
FAQ's
Often regulatory investigation costs are covered; direct statutory fines and penalties may be excluded unless specifically endorsed. Check wording.
Run-off and discovery period options allow cover for past directors for claims reported after they leave, if purchased.
Many policies have Side A (individual), Side B (company indemnity) and Side C (entity cover). Not all jurisdictions permit company indemnity for certain claims—check local law and policy.
Limits are sized by company size, regulatory/regime risk, board composition, and investor demands. Insurers and brokers run board risk assessments.
Yes—startups should consider D&O early, especially if VC-backed or preparing for growth; investors often insist on it.
Shareholder lawsuits, regulatory notices, class actions, employment disputes tied to executive decisions, and alleged breaches of fiduciary duty.