MLIS - How to Insure Directors & Officers Liabilities - VOD

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Directors and officers of for-profit, publicly-held corporations and not-for-profits corporations face a number of legal liability exposures. This course is designed to give a moderately experienced person in insurance a detailed look at the key provisions within a directors and officers (D&O) liability insurance policy and how they function within various claims scenarios. The major areas this course addresses include (1) key insuring agreements, (2) covered persons, organizations, and acts provisions, (3) two of the policy’s most important defined terms: “covered damages” and “covered losses,” (4) defense coverage provisions and defense procedures, (5) the manner in which policy limits, retentions, and coinsurance provisions apply, (6) conditions and exclusions, and (7) claims-made coverage trigger provisions.

Basic Course Information

Learning Objectives

• Distinguish among a corporate D&O liability policy’s three major insuring agreements
• Recognize how the covered persons, covered organizations, and covered acts provisions coordinate within these three insuring agreements
• Identify the “covered damages” and “covered losses” definitions and recognize how they first define and then limit the scope of coverage the policy provides
• Recognize the extent to which D&O policies provide EPL coverage and how endorsements to the forms can further expand upon the extent of such coverage

Major Subjects

• Property and casualty
  Risk
  Safety
  Insurance and finance professionals