Policies that focus coverage on directors and officers–as opposed to the corporate entity–get back to the purpose for which D&O policies were originally designed, according to some in the business.
"When D&O first came out, it was specifically for the individuals," said David Lupica, president of ACE Westchester Professional Risk. This changed when lawsuits came in naming the entity in addition to the directors and officers, which led to allocation issues that placed the insurer and the insured at odds, he noted.
Until the mid-1990s, typical D&O policies had just two coverage parts:
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