A director of a marine services company was required by his employer to sit on the Board of Directors of another company, to whom corporate services were provided. Another director was also asked to sit on the Board of the local Port Authority.
Rather than rely upon any other D&O policy, both directors agreed an “associated directorship” extension whereby their additional directorships were also insured under their own ITIC D&O insurance policy.
These examples are illustrations only. They do not substitute the provisions of the insurance policy, which will be inserted on a case by case basis.
If you have any further questions of ITIC’s D&O coverage, please contact your insurance broker or underwriter or ITIC’s Underwriting Director, Roger Lewis.