There has been a proliferation of Side-A-only insurance forms to cover directors and officers in recent years, but few know the history of the underlying coverage of the full D&O policy–a policy now more than seven decades old.
The first ever D&O policy came out of Lloyd's of London in the late 1930s. Even after the depression, the directors and officers did not see a great need for this insurance and the coverage did not sell well. Companies were not permitted to indemnify their directors or officers at the time.
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