ICICI Lombard Directors & Officers Insurance is a liability plan that protects a company's Directors, Officers and Employees from legal actions related to their corporate roles. It cover costs related to legal defence and other associated expenses sustained by a company in defending the leaders against lawsuits.
Let's take you through the key features of ICICI Lombard Directors & Officers Insurance:
ICICI Lombard Directors & Officers Insurance offers a wide range of coverage, including the following:
Disclaimer: This is not a complete list. Please read the policy wording carefully for full details on all inclusions.
The following scenarios are not included in the ICICI Lombard Directors & Officers Insurance:
Disclaimer: This is not a complete list. For full details on all exclusions, please refer to the policy wording.
The claim settlement process under ICICI Lombard Directors & Officers is pretty straightforward. It involves the following steps:
Ans: Any company with a board of directors or advisory committee, private or publicly held, should consider buying ICICI Lombard Directors & Officers Insurance.
Ans: Yes, legal expenses incurred during regulatory inquiries or investigations are covered under the policy.
Ans: ICICI Lombard ensures speedy claims settlement, with only single documentation for processing.
Ans: Although D&O Insurance is not a legal mandate in India, it is highly recommended for both private and public companies to get the policy.
Ans: The premium for ICICI Lombard Directors & Officers Insurance depends on several factors. It includes the size of the company, industry, financial stability, claims history, and risk exposure.
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