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Such agreements provide for indemnification of officers for personal liability for actions taken on behalf of the corporation. The board will also approve separate resolutions that approve indemnification for decisions made by directors. Indemnity agreements are included in the post-incorporation processes of companies.
Directors and officers liability insurance (also written directors' and officers' liability insurance; [1] often called D&O) is liability insurance payable to the directors and officers of a company, or to the organization itself, as indemnification (reimbursement) for losses or advancement of defense costs in the event an insured suffers such a loss as a result of a legal action brought for ...
Policy form - The definitions, insuring agreement, exclusions, and conditions are typically combined into a single integrated document called a policy form. [25] Some insurers call it a coverage form [25] or coverage part. When multiple coverage forms are packaged into a single policy, the declarations will state as much, and then there may be ...
Liability insurance (also called third-party insurance) is a part of the general insurance system of risk financing to protect the purchaser (the "insured") from the risks of liabilities imposed by lawsuits and similar claims and protects the insured if the purchaser is sued for claims that come within the coverage of the insurance policy.
17% required the customer to pay legal bills of the maker (indemnification), but not vice versa; Among the terms and conditions of 31 cloud-computing services in January-July 2010, operating in England: [6] 27 specified the law to be used (a US state or other country)
26. ENTIRE AGREEMENT. This Agreement and any supplemental terms constitute the entire agreement between you and us concerning the subject matter of this Agreement, which may only be modified by us. 27. GENERAL TERMS. (a) This Agreement shall not be governed by the United Nations Convention on Contracts for the International Sale of Goods.
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