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Outside Directorship Liability Coverage

Outside Directorship Liability Coverage

Definition

The coverage provided by directors and officers (D&O) liability policies for service on boards of directors outside the insured firm. Typically, such coverage only extends to service on the boards of nonprofit, rather than for-profit companies. Outside directorship liability coverage is found within the majority of corporate D&O liability policies and is written on either a double excess or a triple excess basis.

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