How confident are you that your directors and officers insurance policy actually covers what you need it to?
When claims are investigated, it might be discovered that a different policy is needed to cover the exposure, NFP Canada’s Imran Pira recently told Canadian Underwriter.
“That’s why you’re starting to see cyber exclusions on a D&O policy, and although we have seen some cyber claims result in allegations against D&O — claiming lack of oversight or due diligence from the board in this area — most cyber-related incidents [are quite] specific,” Pira told the publication.
“Insurers want to align specific claims to the appropriate policy that’s been drafted and intended to pick up that exposure.”
Follow the link to read the full article and Pira’s thoughts on how insurance brokers are handling these situations.