Why should Indian companies buy Directors and Officers liability insurance?
Indian companies need to purchase D&O insurance to protect their Directors and Officers from exposures arising out of compliance with various statutes. Directors have highly demanding legal obligations to uphold. They also have a fiduciary duty to exercise skill, care and diligence. Further, even independent and nominee directors are held to be equally accountable to stakeholders. Also, as Indian companies foray into the global marketplace to sell their products and services or to mobilize capital, they need to purchase D&O insurance to secure protection from overseas exposures. • AIG – Pioneers in D&O liability insurance Having pioneered the Directors and Officers liability insurance, AIG is the most preferred underwriter of D&O Insurance among the Fortune 500 companies in the United States. AIG’s inherent strengths available to the Indian industry through the Tata AIG partnership include: • Superior claims handling ability • Presence in more than 130 jurisdictions • Local expertise,
