Is there any insurance policy to cover the liabilities of Directors and Officers of a Company? If yes, explain the features of such policy.

There is an insurance policy to cover the liabilities of Directors or Officers of a company. Since they hold positions of trust and responsibility, they may become liable to pay damages, due to acts of omission or commission. It is a type of liability insurance which covers the directors and Officers against the claims made by: Employees Suppliers Competitors Regulators Customers Shareholders Other stakeholders For wrongful acts committed by them in the supervision and management of the affairs of the company. Besides the company itself may be liable. The policy is designed to provide protection to the company as well as Directors or Officers against their personal civil liability.