Directors and Officers Liability Insurance covers the following “wrongful acts”:
- Failure to fulfill a promise
- Misrepresentation of financial statements and company assets
- Breach of trust, such as misappropriation of funds
- Breach of fiduciary duty, resulting in wastage of corporate assets, financial losses, or bankruptcy
- Insider trading
- Fraud
- Breach of authority, such as entering into an agreement without authorization
- Lack of corporate governance
- Theft of intellectual property
- Poaching of competitor’s customers
- Unfair trade practices
- Illegal dismissal, failure to promote, sexual harassment, discrimination, and other violations of employment
- Company Name
- Nature of Business
- Names of Directors and Officers
- Broker of Record (BOR) – form will be provided by Trinity