Legal Due Diligence · glossary
Insurance that keeps an expiring policy answering claims about past events. A D&O policy pays only claims made while it is in force, so the Sunrise report recommended six years of run-off cover for the outgoing directors. Report §11.2 · Chapter 11
Explained in Chapter 11, Litigation, Tax and the Rest, of Legal Due Diligence.
The second step protects the departing directors. A D&O policy pays only for claims made while it is in force. A claim about an old decision may arrive years later, so the policy must stay alive for them. Keeping it alive for six years is called run-off cover.Read Chapter 11, Litigation, Tax and the Rest →
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