Reliance General Directors & Officers Liability Insurance

Reliance General Directors & Officers Liability Insurance

The insurance policy provides coverage for the following perils:

• Defense and Legal Costs
• Expenses incurred in legal representation

Claims arise due to wrongful acts in the capacity of directors and officers of a company. However, here are a few incidents that can lead to litigation on the directors and officers. They are as follows:

• Compliance with various legal statutes
• Corporate Governance requirements
• Management integrity issues
• Auditing and Accounting practices
• Mergers & Acquisitions
• Listing of stock or debt on a stock exchange
• Breach of duty to minority shareholders
• Irregularities in securities issues
• Employment irregularities/harassment

Reliance General Directors & Officers Liability Insurance: Exclusions

The insurance policy does not provide coverage for the following perils:

• Contractual liability
• Bodily Injury and Property Damages
• Professional ​Services
• Consensual claims
• Pollution liability
• USA Insured Vs. Insured
• Dishonesty

Reliance General Directors & Officers Liability Insurance: Add-ons

The insurance company provides several add-ons under this policy. The customer can purchase the below-mentioned add-ons by paying an additional amount:

• Pollution Defense Costs for non-indemnifiable losses
• Shareholder Pollution Actions
• Retired Directors or Officers
• Occupational Health & Safety Defense Costs
• Emergency Defense Costs
• Bilateral Extended Reporting Period
• Spouses, Heirs & Representatives​

Reliance General Directors & Officers Liability Insurance: Claim Process

In order to raise a claim under this policy, kindly follow the below-mentioned steps:

• If a customer files a case against the policyholder, they should immediately notify the insurer.
• The insurer should be asked for a claim form, which must be filled out, signed, and submitted with the necessary documents.
• In the event of the policyholder receiving a legal notice, the insurer must be informed.
• Additionally, the insurer should be notified if any legal proceedings have been initiated in court.
• The insurer will dispatch a surveyor to assess the situation and gather more information.
• Once the insurer is satisfied with the information provided by the policyholder, they will process the claim and settle it accordingly.

Reliance General Directors & Officers Liability Insurance: Documents Required

While raising the claim under this insurance policy, the insured will have to submit the following documents along with the claim form:

• Copy of Aadhar card of the insured
• Copy of PAN card of the insured
• Address proof of the insured organisation
• Any other documents as per the requirement of the insurer

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