Outside Directorship Liability Insurance
This insurance provides coverage for individuals who sit on boards of other entities at the behest of their employer. This is particularly relevant to private equity and director services companies, where staff will often take positions of the board of other companies in the course of their ordinary work.
The coverage sits in excess of other insurance or indemnity available from the company on which the individual acts as a director, thus providing an important back stop for such individuals in the event of a claim.
This coverage can operate on a blanket basis covering all directorships which individuals hold during the policy period.