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Non-indemnifiable loss, a.k.a. Side A, refers to the insuring agreement in a Directors and Officers Liability Insurance policy that protects the assets of directors and officers in the case of a claim against them when the organization is unable or not allowed to indemnify them, e.g. in the case of insolvency or when
What is non-indemnifiable directors and officers liability?
DO Side A coverage is designed to respond to non-indemnifiable loss. In other words, loss that cannot be compensated by the organization. This provides coverage when the organization cannot or will not protect its leaders.
Does insurance cover bdocHub of fiduciary duty?
Fiduciary liability insurance is designed to protect the business from claims of mismanagement and the legal liability arising out of their role as fiduciaries. A fiduciary liability policy covers associated legal costs to defend against claims of errors and a bdocHub of fiduciary duty.
What is a non-indemnifiable claim?
A non-indemnifiable claim is one where the organization is unable to provide financial protection to the individuals for claims against them, either because the company does not have the financial wherewithal to pay the bills, or because the company is legally precluded from doing so.
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The Company shall not be liable under this Agreement to make any payment to Indemnitee in respect of any Indemnifiable Losses to the extent Indemnitee has
The. Governing Board may grant or not grant the request in its sole discretion, based on the needs of this Corporation and the Board at that time. No more than
29 CFR 2509.75-4 - Interpretive bulletin relating to
The Department of Labor interprets section 410(a) as rendering void any arrangement for indemnification of a fiduciary of an employee benefit plan by the plan.
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