NACD Library

Securing the Director and Officers Liability Insurance Lifelines: What Every Director Needs to Know—Before Entering Troubled Waters

Articles and Whitepapers
Publication Date: December 1, 2013
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In brief: Written by Ronit Berkovich and Paul Ferrillo of Weil, Gotshal & Manges for the Report of the NACD Blue Ribbon Commission on Director Liability, this document outlines key points every director should know about their D&O coverage.

This resource can help your board:

  • Determine if directors have adequate coverage through a carrier with a business-friendly reputation.
  • Understand elements of D&O insurance, such as the insured versus insured clause and its carve-outs, non-rescindable Side A coverage, and the priority of payments clause.
  • Stay on top of D&O insurance issues and developments throughout the year.

Most relevant audiences: general counsel, independent directors