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Directors liability insurance (a brief checklist)

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Each and every business will have its own specific requirements relating to liability insurance.

Below is a sample list of questions to ask yourself to determine if your start-up business has decent liability insurance for its Directors and Officers.

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  • Is the amount of the coverage available sufficient for your operation?
  • Is the insurer financially viable, complete with a decent track record?
  • Is the premium competitive?
  • Does the policy cover all Directors and Officers or do they have to be specifically named?
  • When can the insured terminate or not renew coverage?
  • Are any/all legal fees covered?
  • Is the deductible too large?
  • When and how do claims have to be made?
  • Does the insurer have a good history of paying our on claims?
  • Are there special endorsements that may be appropriate?
  • Are the exclusions from coverage too broad?
  • What offsets from the coverage apply?
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