double excess coverage
Double excess coverage is a provision within directors and officers (D&O) liability policies covering an insured director's or officer's work in conjunction with an outside firm, usually a nonprofit organization.
double excess coverage
Double excess coverage is a provision within directors and officers (D&O) liability policies covering an insured director's or officer's work in conjunction with an outside firm, usually a nonprofit organization.
Additional Information
When "outside directorship liability" coverage is written on a double excess basis, the policy will be required to pay claims only after: (1) the outside organization's D&O insurer pays the claim and (2) the outside firm is financially unable to reimburse the director or officer for the claim.
