HDFC ERGO Directors & Officers Insurance offers crucial protection for a company's directors and officers against personal liability claims stemming from their managerial decisions. Tailored for evolving corporate governance risks, it supports board members, CXOs, and independent directors in defending their professional integrity.
Whether you're dealing with regulatory challenges or managing high-stakes decisions, understanding the core features of this policy is the first step to safeguarding your leadership team.
Let’s take a closer look at the coverage areas that form the backbone of this Directors & Officers Insurance and how they help protect your directors and officers from personal liability.
Disclaimer: This list highlights key inclusions but is not exhaustive. Please refer to the official policy documents for complete details.
While the policy offers robust protection, it’s equally important to understand the situations where coverage does not apply.
Disclaimer: This is a summary of common exclusions. Always review the full policy wording to understand the scope and limits of coverage.
Making a claim under HDFC ERGO Directors & Officers Insurance is a structured and transparent process. Here are the five steps to follow:
Step 1: Immediate Intimation Inform HDFC ERGO as soon as a claim or legal notice is received. You can contact them via their claims helpline, email, or visit a local branch.
Step 2: Submit Documents You’ll need to provide all relevant documents, such as a copy of the legal notice, board minutes, regulatory notices, and the insurance policy.
Step 3: Verification and Appointment of Legal Counsel The insurer will verify the claim’s admissibility and may recommend legal counsel or approve your choice, subject to policy terms.
Step 4: Ongoing Assistance and Costs Coverage Once approved, HDFC ERGO reimburses costs or settles them directly with the law firm. Regular updates may be required to ensure continued support.
Step 5: Resolution and Settlement If the case is settled or a verdict is passed, you must inform the insurer. Final expenses are tallied and settled based on remaining limits under the policy.
Ans: This policy is recommended for private limited firms, listed companies, start-ups with external investors, and NGOs with an established board of directors.
Ans: Yes. Directors and officers are covered for acts during their tenure, even after they leave the company. However, a discovery period or run-off cover may be required after policy expiry.
Ans: While not legally mandatory for private companies, it is increasingly being mandated by boards, investors, and venture capital firms to protect fiduciaries.
Ans: Yes. HDFC ERGO offers flexible sum insured options and endorsements such as entity cover, IPO-related liability, and cyber incident extensions based on your business profile
Ans: Both. HDFC ERGO’s D&O policy covers legal defence costs, settlements, and judgements, subject to the terms and conditions mentioned in the policy schedule.
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