{"id":37132,"date":"2026-10-07T09:05:38","date_gmt":"2026-10-07T09:05:38","guid":{"rendered":"https:\/\/securenow.in\/insuropedia\/?p=37132"},"modified":"2026-10-07T09:05:38","modified_gmt":"2026-10-07T09:05:38","slug":"how-to-buy-a-do-policy-the-buyers-guide","status":"publish","type":"post","link":"https:\/\/securenow.in\/insuropedia\/how-to-buy-a-do-policy-the-buyers-guide\/","title":{"rendered":"How to Buy a D&#038;O Policy &#8211; The Buyer\u2019s Guide"},"content":{"rendered":"<div id=\"bsf_rt_marker\"><\/div><h2>Introduction<\/h2>\n<p>Buying D&amp;O insurance is different from buying a standard business policy. In particular, there is no fixed product off the shelf. Instead, the insurer needs to understand the company, its board, and its risks before it can quote. Likewise, the buyer needs to understand the policy wording before accepting it.<\/p>\n<p>This guide walks through the Buying Process of D&amp;O Insurance from start to finish. Specifically, it covers what information you need, how to obtain and compare quotes, what to check in the wording, how payment and issuance work, and what to do after purchase. It also answers a common question: can directors buy a D&amp;O policy for themselves?<\/p>\n<div style=\"border: 1px solid #d0d7de; background-color: #f6f8fa; border-left: 4px solid #2f5496; padding: 16px 20px; border-radius: 4px; margin: 20px 0; font-size: 16px; line-height: 1.6;\">A company usually buys D&amp;O insurance for its directors and officers. Start by assessing the company&#8217;s exposure and deciding who needs cover. Gather underwriting information, such as financials, board details, and claims history. Then decide the limit, retention, and extensions. Obtain quotations through a broker, an insurer, or an online platform, and compare them like-for-like, including exclusions. Complete the proposal accurately and select the policy. Finally, pay the premium and check the policy documents when they arrive.<\/div>\n<h2>What Is D&amp;O Insurance?<\/h2>\n<p>Directors and Officers (D&amp;O) Liability Insurance protects directors, officers and, depending on the policy, the company itself against claims alleging wrongful acts in managing the business. Generally, it pays defence costs and, where covered, settlements or awards, subject to the policy terms, limits and exclusions.<\/p>\n<p>A D&amp;O policy generally has three insuring clauses:<\/p>\n<ul>\n<li><strong>Side A<\/strong> &#8211; pays for insured individuals when the company does not indemnify them<\/li>\n<li><strong>Side B<\/strong> &#8211; reimburses the company when it indemnifies its directors and officers<\/li>\n<li><strong>Side C<\/strong> &#8211; protects the company itself for certain claims, where included<\/li>\n<\/ul>\n<p>For a full explanation, see SecureNow\u2019s guide to <a href=\"https:\/\/securenow.in\/insuropedia\/what-are-side-a-b-and-c-covers-in-a-d-o-policy\/\"><em>Side A, B and C covers in a D&amp;O policy<\/em><\/a>.<\/p>\n<h2>Why Should a Company Consider D&amp;O Insurance?<\/h2>\n<p>Directors and officers can face claims personally for decisions made on the company\u2019s behalf. Moreover, claims may come from shareholders, lenders, regulators, employees, creditors, or other third parties. Furthermore, defence costs alone can be high, even when the allegation fails.<\/p>\n<p>In India, directors have statutory duties under Section 166 of the Companies Act, 2013. In addition, for the largest listed companies, SEBI\u2019s Listing Regulations require D&amp;O insurance for independent directors. However, for most private companies, buying D&amp;O is a governance and risk decision rather than a legal requirement. Investors, lenders, or prospective board members may still expect it.<\/p>\n<p>The right level of cover differs from company to company. For example, a small private company and a listed group face very different exposures.<\/p>\n<h2>Who Can Be Covered Under a D&amp;O Policy?<\/h2>\n<p>The company is usually the policyholder, and directors and officers are the insured persons. However, the exact definition of \u201cinsured person\u201d depends on the policy wording. For instance, it may include:<\/p>\n<ul>\n<li>Directors, including executive, non-executive, independent, and nominee directors<\/li>\n<li>Officers, such as the company secretary or chief financial officer<\/li>\n<li>Senior managers or employees acting in a managerial capacity, depending on the policy<\/li>\n<li>Former directors and officers, for acts during their tenure<\/li>\n<li>Estates, heirs or legal representatives of insured persons, where the policy extends to them<\/li>\n<li>Directors serving on outside boards at the company\u2019s request, where outside directorship cover applies<\/li>\n<\/ul>\n<p>See <a href=\"https:\/\/securenow.in\/insuropedia\/who-are-covered-under-directors-officers-liability-insurance-policy\/\"><em>who is covered under a D&amp;O policy<\/em><\/a> for more detail.<\/p>\n<h2>Step-by-Step Buying Process for D&amp;O Insurance<\/h2>\n<p>The steps below describe a typical buying process for D&amp;O Insurance. However, actual steps and documents vary by insurer, intermediary and policy.<\/p>\n<h3>Step 1: Assess Your D&amp;O Insurance Requirement<\/h3>\n<p>Start by understanding why the company needs cover and how much exposure it faces. In particular, consider:<\/p>\n<ul>\n<li><strong>Board structure<\/strong> &#8211; number of directors, as well as independent and nominee directors<\/li>\n<li><strong>Officers<\/strong> &#8211; especially key managerial personnel with decision-making authority<\/li>\n<li><strong>Business activities<\/strong> &#8211; especially products, services and customers<\/li>\n<li><strong>Regulatory exposure<\/strong> &#8211; especially sectors with active regulators or licensing<\/li>\n<li><strong>Investor and shareholder expectations<\/strong> &#8211; particularly those in shareholder agreements<\/li>\n<li><strong>Employment decisions<\/strong> &#8211; such as hiring, termination and workplace conduct<\/li>\n<li><strong>Financial responsibilities<\/strong> &#8211; such as borrowings, guarantees and reporting<\/li>\n<li><strong>Litigation exposure<\/strong> &#8211; such as past disputes and likely claimants<\/li>\n<li><strong>Company structure<\/strong> &#8211; particularly subsidiaries and overseas entities<\/li>\n<li><strong>Status<\/strong> &#8211; private, public or listed<\/li>\n<\/ul>\n<p>Consequently, the answers shape everything that follows: the limit, the extensions and the insurers likely to be interested.<\/p>\n<h3>Step 2: Identify the People Who Need Coverage<\/h3>\n<p>List the people the policy must protect. First, include current directors and officers. Then check whether the wording should also cover:<\/p>\n<ul>\n<li>Former directors and officers, for acts during their tenure<\/li>\n<li>Senior managers or employees with management roles<\/li>\n<li>Directors serving on outside boards<\/li>\n<li>Directors of subsidiaries<\/li>\n<\/ul>\n<p>Ask how each quotation defines \u201cinsured person\u201d. This matters because definitions differ, and a narrow definition can leave some people outside the cover.<\/p>\n<h3>Step 3: Gather Information for the Quote<\/h3>\n<p>Insurers need information to underwrite the risk. Requests vary by insurer and policy, but commonly include:<\/p>\n<table style=\"width: 100%; border-collapse: collapse; margin: 20px 0; font-size: 16px;\">\n<thead>\n<tr>\n<th style=\"background-color: #2f5496; color: #ffffff; text-align: left; padding: 10px 14px; border: 1px solid #d0d7de;\">Information Area<\/th>\n<th style=\"background-color: #2f5496; color: #ffffff; text-align: left; padding: 10px 14px; border: 1px solid #d0d7de;\">Examples of What May Be Requested<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr style=\"background-color: #f2f2f2;\">\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Company details<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Name, registration, date of incorporation<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Nature of business<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Activities, products, customers<\/td>\n<\/tr>\n<tr style=\"background-color: #f2f2f2;\">\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Financials<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Revenue or turnover, assets, recent financial statements where required<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Board and management<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Number of directors, key officers, governance structure<\/td>\n<\/tr>\n<tr style=\"background-color: #f2f2f2;\">\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Ownership<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Shareholding pattern, investors, promoter holdings<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Operations<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Locations, subsidiaries, overseas activity<\/td>\n<\/tr>\n<tr style=\"background-color: #f2f2f2;\">\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Listing status<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Whether listed, and on which exchange<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Claims history<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Past claims, pending litigation, known circumstances<\/td>\n<\/tr>\n<tr style=\"background-color: #f2f2f2;\">\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Regulatory matters<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Notices, investigations or penalties<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Existing insurance<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Current D&amp;O policy, limit, retention, expiry<\/td>\n<\/tr>\n<tr style=\"background-color: #f2f2f2;\">\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Cover sought<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Desired limit, retention and extensions<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Give accurate and complete information. Otherwise, gaps or errors can delay quotes. More seriously, they can affect cover if a claim arises later.<\/p>\n<h3>Step 4: Decide the Required Coverage and Policy Limit<\/h3>\n<p>Before requesting quotes, decide what you are trying to buy:<\/p>\n<ul>\n<li><strong>Policy limit<\/strong> &#8211; the maximum the insurer will pay<\/li>\n<li><strong>Aggregate limit<\/strong> &#8211; generally the total for all claims in the policy period<\/li>\n<li><strong>Retention or deductible<\/strong> &#8211; the amount the company bears before the policy pays, often applying to Side B and C<\/li>\n<li><strong>Side A, B and C<\/strong> &#8211; which insuring clauses you need<\/li>\n<li><strong>Defence costs<\/strong> &#8211; how they are paid and also whether they reduce the limit<\/li>\n<li><strong>Extensions<\/strong> &#8211; such as regulatory investigation cover, entity EPLI or run-off, where available<\/li>\n<li><strong>Sublimits<\/strong> &#8211; lower limits within the policy for particular covers, such as certain extensions<\/li>\n<li><strong>Excess or layered cover<\/strong> &#8211; for larger programmes, additional limits placed with other insurers<\/li>\n<\/ul>\n<p>Do not choose a limit only on price. Instead, base it on the company\u2019s exposure, and review it as the business grows. SecureNow\u2019s article on <a href=\"https:\/\/securenow.in\/insuropedia\/what-drives-the-cost-of-a-d-o-policy\/\"><em>what drives the cost of a D&amp;O policy<\/em><\/a> explains how these choices affect premium.<\/p>\n<h3>Step 5: Obtain D&amp;O Insurance Quotes<\/h3>\n<p>Generally, quotations can be obtained through:<\/p>\n<ul>\n<li><strong>Insurance brokers or intermediaries<\/strong> &#8211; who approach several insurers and then help compare terms<\/li>\n<li><strong>Insurers directly<\/strong> &#8211; where they deal directly with commercial clients<\/li>\n<li><strong>Online platforms<\/strong> &#8211; which collect company details and then return indicative quotations, where available<\/li>\n<\/ul>\n<p>Whichever route you choose, give the same information to every insurer. Otherwise, inconsistent information produces quotes that cannot be compared.<\/p>\n<h3><strong>Video: How to Buy a D&amp;O Policy<\/strong><\/h3>\n<p>In this short SecureNow video, our team shows how to request and compare D&amp;O quotations online.<\/p>\n<p><iframe loading=\"lazy\" title=\"Buy Directors &amp; Officers liability insurance policy in 5 minutes\" width=\"980\" height=\"551\" src=\"https:\/\/www.youtube.com\/embed\/9QtTLUh8GM4?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<h3>Step 6: Compare Quotes on a Like-for-Like Basis<\/h3>\n<p>A lower premium may simply reflect a lower limit, a higher retention, or narrower cover. Therefore, use a worksheet to line up the quotations:<\/p>\n<table style=\"width: 100%; border-collapse: collapse; margin: 20px 0; font-size: 16px;\">\n<thead>\n<tr>\n<th style=\"background-color: #2f5496; color: #ffffff; text-align: left; padding: 10px 14px; border: 1px solid #d0d7de;\">Feature<\/th>\n<th style=\"background-color: #2f5496; color: #ffffff; text-align: left; padding: 10px 14px; border: 1px solid #d0d7de;\">Quote A<\/th>\n<th style=\"background-color: #2f5496; color: #ffffff; text-align: left; padding: 10px 14px; border: 1px solid #d0d7de;\">Quote B<\/th>\n<th style=\"background-color: #2f5496; color: #ffffff; text-align: left; padding: 10px 14px; border: 1px solid #d0d7de;\">What to Compare<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr style=\"background-color: #f2f2f2;\">\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Policy limit<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Same limit? Any per-claim limit?<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Retention<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Amount and which clauses it applies to<\/td>\n<\/tr>\n<tr style=\"background-color: #f2f2f2;\">\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Side A<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Included? Any additional Side A limit?<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Side B<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Retention and conditions<\/td>\n<\/tr>\n<tr style=\"background-color: #f2f2f2;\">\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Side C<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Included? Scope of entity cover<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Defence costs<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Advanced or reimbursed; inside or outside limit<\/td>\n<\/tr>\n<tr style=\"background-color: #f2f2f2;\">\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Key exclusions<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Exclusions in one quote but not another<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Extensions<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Which are included; sublimits<\/td>\n<\/tr>\n<tr style=\"background-color: #f2f2f2;\">\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Territorial\/jurisdiction scope<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">India only, worldwide, or excluding certain countries<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Premium<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Base premium<\/td>\n<\/tr>\n<tr style=\"background-color: #f2f2f2;\">\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Taxes\/charges<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">GST and any other charges<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Insurer\/policy wording<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Standard wording and endorsements<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>For more on choosing between insurers, see <a href=\"https:\/\/securenow.in\/insuropedia\/what-are-the-criteria-for-selection-of-the-best-do-insurance-company\/\"><em>criteria for selecting a D&amp;O insurance company<\/em><\/a>.<\/p>\n<h3>Step 7: Review the Policy Wording and Exclusions<\/h3>\n<p>The quotation summarises the cover; the wording defines it. Before deciding, review:<\/p>\n<ul>\n<li><strong>Insuring clauses<\/strong> &#8211; what the insurer promises to pay<\/li>\n<li><strong>Definitions<\/strong> &#8211; \u201cclaim\u201d, \u201cwrongful act\u201d, \u201cinsured person\u201d, \u201closs\u201d<\/li>\n<li><strong>Exclusions<\/strong> &#8211; what is not covered; also see <a href=\"https:\/\/securenow.in\/insuropedia\/exclusions-in-a-dno-liability-policy\/\"><em>exclusions in a D&amp;O liability policy<\/em><\/a><\/li>\n<li><strong>Conditions<\/strong> &#8211; your duties, such as cooperation and consent<\/li>\n<li><strong>Retention<\/strong> &#8211; how it applies to each clause, especially Side B and C<\/li>\n<li><strong>Defence-cost provisions<\/strong> &#8211; advancement, consent and choice of counsel<\/li>\n<li><strong>Claims-made structure<\/strong> &#8211; also see <a href=\"https:\/\/securenow.in\/insuropedia\/is-directors-and-officers-liability-insurance-a-claims-made-policy\/\"><em>D&amp;O liability insurance &#8211; a claims-made policy<\/em><\/a><\/li>\n<li><strong>Reporting requirements<\/strong> &#8211; how and when to notify claims<\/li>\n<li><strong>Prior or pending litigation<\/strong> &#8211; how existing matters are treated<\/li>\n<li><strong>Retroactive date<\/strong> &#8211; also see <a href=\"https:\/\/securenow.in\/insuropedia\/what-is-the-importance-of-retroactive-date-in-liability-insurance\/\"><em>the importance of the retroactive date<\/em><\/a><\/li>\n<li><strong>Territorial and jurisdiction terms<\/strong><\/li>\n<li><strong>Extensions, limits and sublimits<\/strong><\/li>\n<\/ul>\n<p>Wordings differ between insurers. Therefore, avoid assuming that two policies with similar names provide the same cover.<\/p>\n<h3>Step 8: Complete the Proposal and Underwriting Process<\/h3>\n<p>Once you choose a quotation, the insurer will usually require a signed proposal form. Following this, the underwriting stage may involve:<\/p>\n<ul>\n<li>Completing and signing the proposal or application<\/li>\n<li>Answering underwriting questions<\/li>\n<li>Providing additional documents, whenever the insurer asks for them<\/li>\n<li>Clarifying information previously supplied<\/li>\n<li>The insurer\u2019s review of the risk<\/li>\n<li>Revisions to the quotation, whenever the insurer\u2019s view changes<\/li>\n<\/ul>\n<p>Disclose all relevant information, including known circumstances that could lead to a claim. Otherwise, non-disclosure or misstatement can give the insurer grounds to dispute cover. In practice, known circumstances are often excluded from a new policy anyway. Nevertheless, disclosing them keeps the position clear for both sides.<\/p>\n<h3>Step 9: Select the Policy<\/h3>\n<p>Choose the policy that best fits the company\u2019s needs. In particular, weigh:<\/p>\n<ul>\n<li>Coverage and insuring clauses<\/li>\n<li>Limit and retention<\/li>\n<li>Exclusions and extensions<\/li>\n<li>Defence-cost treatment<\/li>\n<li>Policy wording quality<\/li>\n<li>Premium, including taxes<\/li>\n<li>Insurer suitability and D&amp;O experience<\/li>\n<li>Claims handling and service<\/li>\n<li>The company\u2019s own requirements<\/li>\n<\/ul>\n<p>The cheapest option is not automatically right, and neither is the most expensive. Instead, the right choice is the one that fits the company\u2019s exposure.<\/p>\n<h3>Step 10: Pay the Premium and Confirm Policy Issuance<\/h3>\n<ul>\n<li>The premium is usually paid before cover starts. Under Section 64VB of the Insurance Act, 1938, an insurer generally cannot assume risk until the premium is received, or guaranteed or deposited as the law allows.<\/li>\n<li>GST applies to D&amp;O premiums. However, the September 2025 exemption covers individual life and health insurance only.<\/li>\n<li>Allow time for payment to clear before the intended start date.<\/li>\n<li>Also confirm the start date and time shown on the policy.<\/li>\n<li>Afterwards, the insurer issues the policy schedule and wording, and any endorsements.<\/li>\n<li>Finally, check that the documents match what you agreed.<\/li>\n<\/ul>\n<p>Generally, payment methods and timelines depend on the insurer.<\/p>\n<h3>Step 11: Review the Policy After Purchase<\/h3>\n<p>Buying the policy is not the end of the process. Therefore, on receipt, review:<\/p>\n<ul>\n<li>The policy schedule &#8211; names, period, limit, retention and premium<\/li>\n<li>The full wording and endorsements<\/li>\n<li>Insured persons and entities<\/li>\n<li>Exclusions and extensions<\/li>\n<li>Insurer and broker contact details<\/li>\n<li>The claims notification process<\/li>\n<li>The renewal date<\/li>\n<\/ul>\n<p>Keep the policy where the board and legal team can find it. Also brief directors on what the cover does and does not include.<\/p>\n<p>Similarly, business changes can affect cover. For example, acquisitions, new subsidiaries, overseas expansion, a listing or a change of control may need to be notified during the policy period or reviewed at renewal, depending on the policy terms. In addition, some add-ons can be requested mid-term &#8211; see <a href=\"https:\/\/securenow.in\/insuropedia\/can-i-include-the-add-on-coverage-after-buying-do-insurance\/\"><em>adding add-on cover after buying D&amp;O insurance<\/em><\/a>. Finally, renewals are re-underwritten each year; see <a href=\"https:\/\/securenow.in\/insuropedia\/renewing-a-dno-liability-insurance-policy\/\"><em>renewing a D&amp;O policy<\/em><\/a>.<\/p>\n<h3><strong>Infographic: Buying Process of D&amp;O Insurance<\/strong><\/h3>\n<p>This SecureNow infographic summarises the main stages of buying a D&amp;O policy. You can also use it as a quick reference alongside the steps above.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-large aligncenter\" src=\"https:\/\/securenow.in\/insuropedia\/wp-content\/uploads\/2023\/07\/how-to-buy-do-insurance-725x1024.jpg\" alt=\"Infographic showing the stages of buying a D&amp;O insurance policy, from assessing needs and getting quotes to comparing cover and paying the premium\" width=\"725\" height=\"1024\" \/><\/p>\n<h2>How to Buy a D&amp;O Insurance Policy Online from SecureNow<\/h2>\n<p>If you are wondering how to buy a D&amp;O insurance policy online from SecureNow, the journey follows the same principles as any D&amp;O purchase. The main difference, however, is that the first steps happen online.<\/p>\n<p>At the time of writing, SecureNow\u2019s D&amp;O quote form on its <a href=\"https:\/\/securenow.in\/commercial-liability-insurance\/director-officer-liability-insurance\"><em>Directors &amp; Officers Liability Insurance<\/em><\/a> page works in three stages:<\/p>\n<ol>\n<li><strong>Contact details.<\/strong> First, enter the company name, city, mobile number, and email address.<\/li>\n<li><strong>Industry classification.<\/strong> Then select the company\u2019s industry.<\/li>\n<li>Finally, view quotations from insurers and choose the coverage you want to compare.<\/li>\n<\/ol>\n<p>After that, a typical purchase continues as follows:<\/p>\n<ol start=\"4\">\n<li><strong>Compare coverage and terms<\/strong> &#8211; limits, retention, exclusions, and extensions.<\/li>\n<li><strong>Provide underwriting information<\/strong> &#8211; insurers may need more details before confirming terms.<\/li>\n<li><strong>Select the policy<\/strong> that suits the company\u2019s needs.<\/li>\n<li><strong>Complete the proposal and documentation<\/strong> required by the insurer.<\/li>\n<li><strong>Then pay the premium.<\/strong><\/li>\n<li><strong>Finally, receive the policy documents<\/strong> and review them.<\/li>\n<\/ol>\n<p>The exact steps, information requested, and completion process depend on the insurer and the company\u2019s risk profile, and the online form may change. SecureNow\u2019s team can also be contacted directly for help with requirements or comparisons.<\/p>\n<p>Buying online is a convenient way to start. However, it does not replace reading the policy wording before you commit.<\/p>\n<h2>Can Directors Buy D&amp;O Policy for Themselves?<\/h2>\n<p><strong>In most cases, the company buys the D&amp;O policy and its directors and officers are insured persons under it.<\/strong> As a result, directors rarely need to buy a separate policy. In addition, whether an individual can arrange personal cover depends on what insurers in the market offer.<\/p>\n<h3>Policyholder vs insured person<\/h3>\n<p>These two roles are often confused:<\/p>\n<ul>\n<li><strong>Policyholder<\/strong> &#8211; the entity that buys the policy and pays the premium. For standard D&amp;O, this is generally the company.<\/li>\n<li><strong>Insured person<\/strong> &#8211; anyone the policy protects. Directors and officers are insured persons, even though they did not buy the policy themselves.<\/li>\n<\/ul>\n<p>In short, this structure is why a director is usually protected without a personal contract with the insurer.<\/p>\n<h3>Why companies usually buy D&amp;O<\/h3>\n<ul>\n<li><strong>One policy covers the whole board.<\/strong> This matters because claims often name several directors, and a single policy responds to all insured persons, subject to its terms.<\/li>\n<li><strong>The policy can also cover the company.<\/strong> Side B reimburses the company for indemnifying directors, and Side C may cover the company itself.<\/li>\n<li><strong>In addition, the company holds the underwriting information<\/strong> insurers need, such as financials, governance, and claims history.<\/li>\n<li><strong>The law allows the company to pay.<\/strong> Under Section 197(13) of the Companies Act, 2013, premium paid by the company for insurance protecting its managing director, whole-time director, manager, CEO, CFO or company secretary against liability for negligence, default, misfeasance, breach of duty or breach of trust is not treated as remuneration. However, if the person is proved guilty, the premium is treated as part of their remuneration.<\/li>\n<\/ul>\n<h3>Can an individual director buy cover separately?<\/h3>\n<p>Possibly, but a director should not assume so. In particular, a director usually cannot simply buy a copy of the company\u2019s D&amp;O policy. This is because that policy is built around the company as policyholder, and it is underwritten on the company\u2019s information.<\/p>\n<p>Some insurers may offer products for individual or independent directors. However, availability, structure and wording vary, and such products are not standard in every market. Therefore, an individual director considering personal cover should ask a broker what is available and how it would interact with the company\u2019s policy.<\/p>\n<h3>How Side A matters to directors<\/h3>\n<p>Side A is the part of a company D&amp;O policy most directly aimed at individuals. It pays for insured persons when the company does not indemnify them &#8211; for example, if the company is insolvent or legally unable to indemnify. For independent directors in particular, the adequacy of Side A cover can be a key question. See <a href=\"https:\/\/securenow.in\/insuropedia\/how-does-the-claim-process-work-for-side-a-cover-for-do-policy\/\"><em>how the claim process works for Side A cover<\/em><\/a>.<\/p>\n<h3>What a director should check before relying on the company\u2019s policy<\/h3>\n<ul>\n<li>Is the director within the definition of \u201cinsured person\u201d?<\/li>\n<li>Is Side A included, and how much of the limit is available to individuals?<\/li>\n<li>Is the limit shared with the company and other directors?<\/li>\n<li>Does cover continue after the director leaves the board?<\/li>\n<li>Are outside directorships covered, if relevant?<\/li>\n<li>When does the policy expire, and will it be renewed?<\/li>\n<\/ul>\n<h2>What Should You Compare Before Buying D&amp;O Insurance?<\/h2>\n<table style=\"width: 100%; border-collapse: collapse; margin: 20px 0; font-size: 16px;\">\n<thead>\n<tr>\n<th style=\"background-color: #2f5496; color: #ffffff; text-align: left; padding: 10px 14px; border: 1px solid #d0d7de;\">What to Compare Before Buying D&amp;O Insurance<\/th>\n<th style=\"background-color: #2f5496; color: #ffffff; text-align: left; padding: 10px 14px; border: 1px solid #d0d7de;\">Why It Matters<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr style=\"background-color: #f2f2f2;\">\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Policy limit<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Caps what the policy will pay for all claims<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Retention<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Sets how much the company bears per claim<\/td>\n<\/tr>\n<tr style=\"background-color: #f2f2f2;\">\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Side A coverage<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Protects individuals when the company cannot indemnify them<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Side B coverage<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Reimburses the company when it indemnifies directors<\/td>\n<\/tr>\n<tr style=\"background-color: #f2f2f2;\">\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Side C coverage<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Decides whether the company itself is covered<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Defence costs<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Often the largest part of a claim; therefore, timing and effect on limit matter<\/td>\n<\/tr>\n<tr style=\"background-color: #f2f2f2;\">\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Exclusions<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Remove cover for specific situations, such as known claims<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Extensions<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Add cover for particular risks, although often with sublimits<\/td>\n<\/tr>\n<tr style=\"background-color: #f2f2f2;\">\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Territorial scope<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Decides where claims can be brought and still be covered<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Claims-made provisions<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Decide which policy responds to a claim<\/td>\n<\/tr>\n<tr style=\"background-color: #f2f2f2;\">\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Insured persons<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Decides who is protected<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Premium<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">The cost of the cover<\/td>\n<\/tr>\n<tr style=\"background-color: #f2f2f2;\">\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Taxes\/charges<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Add to the total payable<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Policy wording<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Governs every claim, so read it in full<\/td>\n<\/tr>\n<tr style=\"background-color: #f2f2f2;\">\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Claims notification requirements<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Late notice, for example, can affect cover<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Renewal terms<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Affect continuity of cover, especially for claims-made policies<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2>Common Mistakes When Buying D&amp;O Insurance<\/h2>\n<ul>\n<li><strong>Choosing only on premium.<\/strong> In fact, a cheaper quote may simply buy less cover.<\/li>\n<li><strong>Comparing unlike limits.<\/strong> In short, quotes with different limits cannot be compared on price.<\/li>\n<li><strong>Ignoring exclusions.<\/strong> Indeed, one broad exclusion can remove cover for your most likely claim.<\/li>\n<li><strong>Ignoring retention.<\/strong> After all, a high retention shifts cost back to the company.<\/li>\n<li><strong>Not checking the Side A\/B\/C structure.<\/strong> As a result, individuals and the company may not be protected as expected.<\/li>\n<li><strong>Failing to disclose relevant information.<\/strong> Indeed, non-disclosure can put cover at risk.<\/li>\n<li><strong>Not reviewing claims-made requirements.<\/strong> As a result, gaps in continuity or late notice can affect claims.<\/li>\n<li><strong>Not checking defence-cost provisions.<\/strong> For example, reimbursement-only terms can create cash-flow problems.<\/li>\n<li><strong>Assuming every director has identical protection.<\/strong> However, definitions, shared limits and outside roles matter.<\/li>\n<li><strong>Not reading the definitions.<\/strong> After all, they control how every other clause works.<\/li>\n<li><strong>Not checking extensions.<\/strong> Consequently, needed coverages may be missing or sublimited.<\/li>\n<li><strong>Waiting for a dispute to understand the policy.<\/strong> By then, it is too late to change it.<\/li>\n<li><strong>Treating an online purchase as a substitute for understanding coverage.<\/strong> In short, the convenience of buying online doesn\u2019t change the need to read the wording.<\/li>\n<\/ul>\n<h2>D&amp;O Insurance Buying Checklist<\/h2>\n<table style=\"width: 100%; border-collapse: collapse; margin: 20px 0; font-size: 16px;\">\n<thead>\n<tr>\n<th style=\"background-color: #2f5496; color: #ffffff; text-align: left; padding: 10px 14px; border: 1px solid #d0d7de; width: 15%;\">Stage<\/th>\n<th style=\"background-color: #2f5496; color: #ffffff; text-align: left; padding: 10px 14px; border: 1px solid #d0d7de;\">Checklist Item<\/th>\n<th style=\"background-color: #2f5496; color: #ffffff; text-align: center; padding: 10px 14px; border: 1px solid #d0d7de; width: 10%;\">Done<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr style=\"background-color: #f2f2f2;\">\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Assess<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Understand the company&#8217;s D&amp;O risk<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de; text-align: center;\">\u2610<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Assess<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Identify directors and officers who need cover<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de; text-align: center;\">\u2610<\/td>\n<\/tr>\n<tr style=\"background-color: #f2f2f2;\">\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Assess<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Review company structure, subsidiaries and overseas activity<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de; text-align: center;\">\u2610<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Prepare<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Gather underwriting information<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de; text-align: center;\">\u2610<\/td>\n<\/tr>\n<tr style=\"background-color: #f2f2f2;\">\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Prepare<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">List previous and pending claims, and known circumstances<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de; text-align: center;\">\u2610<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Decide<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Decide the desired policy limit<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de; text-align: center;\">\u2610<\/td>\n<\/tr>\n<tr style=\"background-color: #f2f2f2;\">\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Decide<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Decide the retention<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de; text-align: center;\">\u2610<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Compare<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Compare Side A\/B\/C cover<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de; text-align: center;\">\u2610<\/td>\n<\/tr>\n<tr style=\"background-color: #f2f2f2;\">\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Compare<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Review defence-cost provisions<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de; text-align: center;\">\u2610<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Compare<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Review exclusions<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de; text-align: center;\">\u2610<\/td>\n<\/tr>\n<tr style=\"background-color: #f2f2f2;\">\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Compare<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Review extensions and sublimits<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de; text-align: center;\">\u2610<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Compare<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Compare territorial and jurisdiction terms<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de; text-align: center;\">\u2610<\/td>\n<\/tr>\n<tr style=\"background-color: #f2f2f2;\">\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Compare<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Compare insurer and policy wording<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de; text-align: center;\">\u2610<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Compare<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Compare premiums<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de; text-align: center;\">\u2610<\/td>\n<\/tr>\n<tr style=\"background-color: #f2f2f2;\">\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Compare<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Check taxes and charges<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de; text-align: center;\">\u2610<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Compare<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Confirm quotes are like-for-like<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de; text-align: center;\">\u2610<\/td>\n<\/tr>\n<tr style=\"background-color: #f2f2f2;\">\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Buy<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Review the proposal before signing<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de; text-align: center;\">\u2610<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Buy<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Confirm policy inception date<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de; text-align: center;\">\u2610<\/td>\n<\/tr>\n<tr style=\"background-color: #f2f2f2;\">\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">After<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Confirm policy documents received and correct<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de; text-align: center;\">\u2610<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">After<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Understand the claims notification procedure<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de; text-align: center;\">\u2610<\/td>\n<\/tr>\n<tr style=\"background-color: #f2f2f2;\">\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">After<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Record the renewal date<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de; text-align: center;\">\u2610<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2>Illustrative Example: Buying a D&amp;O Policy<\/h2>\n<p><strong>Illustrative example &#8211; no real insurer, price or coverage outcome is implied.<\/strong><\/p>\n<p>A privately held manufacturing company has five directors, including one nominee director from an investor. In addition, its shareholders\u2019 agreement requires D&amp;O cover. As a result, the company buys its first policy.<\/p>\n<ol>\n<li><strong>Assess risk.<\/strong> First, the CFO lists the company\u2019s exposures: investor relations, a large workforce, and borrowings.<\/li>\n<li><strong>Gather information.<\/strong> Then the company collects its latest audited financials, board details, shareholding pattern, and a note confirming no past claims.<\/li>\n<li><strong>Decide cover.<\/strong> After that, the board agrees on a limit it considers proportionate to its exposure. In addition, it asks for Side A, B, and C, and for entity EPLI because of the workforce.<\/li>\n<li><strong>Request quotes.<\/strong> Then, through a broker, the company requests quotations from several insurers on the same basis.<\/li>\n<li><strong>Compare policies.<\/strong> Two quotes are close on price. However, one excludes entity EPLI and has a higher retention.<\/li>\n<li><strong>Review exclusions.<\/strong> Following this, the legal team checks the wording and finds a broader prior-litigation exclusion in one quote.<\/li>\n<li><strong>Complete underwriting.<\/strong> Afterwards, the company signs the proposal and answers an insurer query about a supplier dispute.<\/li>\n<li><strong>Select a policy.<\/strong> Eventually, the board chooses the quote that matches its required cover, not simply the cheaper one.<\/li>\n<li><strong>Pay the premium.<\/strong> The company pays before the planned start date.<\/li>\n<li><strong>Receive the policy.<\/strong> Finally, the CFO checks the schedule, circulates a summary to directors, and records the renewal date.<\/li>\n<\/ol>\n<h2>D&amp;O Insurance Comparison Table<\/h2>\n<p>A standalone worksheet for comparing quotations. Complete one column per quote.<\/p>\n<table style=\"width: 100%; border-collapse: collapse; margin: 20px 0; font-size: 15px;\">\n<thead>\n<tr>\n<th style=\"background-color: #2f5496; color: #ffffff; text-align: left; padding: 10px 12px; border: 1px solid #d0d7de;\">Feature<\/th>\n<th style=\"background-color: #2f5496; color: #ffffff; text-align: left; padding: 10px 12px; border: 1px solid #d0d7de;\">Quote A<\/th>\n<th style=\"background-color: #2f5496; color: #ffffff; text-align: left; padding: 10px 12px; border: 1px solid #d0d7de;\">Quote B<\/th>\n<th style=\"background-color: #2f5496; color: #ffffff; text-align: left; padding: 10px 12px; border: 1px solid #d0d7de;\">Quote C<\/th>\n<th style=\"background-color: #2f5496; color: #ffffff; text-align: left; padding: 10px 12px; border: 1px solid #d0d7de;\">What to Compare<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr style=\"background-color: #f2f2f2;\">\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\">Insurer<\/td>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\">D&amp;O experience and claims service<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\">Policy limit<\/td>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\">Same limit? Any per-claim limit?<\/td>\n<\/tr>\n<tr style=\"background-color: #f2f2f2;\">\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\">Retention<\/td>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\">Amount and clauses it applies to<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\">Side A<\/td>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\">Included; any additional Side A limit<\/td>\n<\/tr>\n<tr style=\"background-color: #f2f2f2;\">\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\">Side B<\/td>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\">Retention and conditions<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\">Side C<\/td>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\">Scope of entity cover<\/td>\n<\/tr>\n<tr style=\"background-color: #f2f2f2;\">\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\">Insured persons<\/td>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\">Definition; former and outside directors<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\">Defence costs<\/td>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\">Advanced or reimbursed; inside or outside limit<\/td>\n<\/tr>\n<tr style=\"background-color: #f2f2f2;\">\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\">Key exclusions<\/td>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\">Differences between quotes<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\">Extensions and sublimits<\/td>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\">What is included and at what limit<\/td>\n<\/tr>\n<tr style=\"background-color: #f2f2f2;\">\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\">Territory\/jurisdiction<\/td>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\">Where claims are covered<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\">Retroactive \/ prior-litigation date<\/td>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\">Continuity with previous cover<\/td>\n<\/tr>\n<tr style=\"background-color: #f2f2f2;\">\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\">Premium<\/td>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\">Base premium<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\">Taxes\/charges<\/td>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\">GST<\/td>\n<\/tr>\n<tr style=\"background-color: #f2f2f2;\">\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\">Total payable<\/td>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\">Base premium plus GST and charges<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\">Policy wording received<\/td>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 12px; border: 1px solid #d0d7de;\">Full wording, rather than just the quote<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2>D&amp;O Insurance Buying Checklist<\/h2>\n<p>A standalone version for internal sign-off.<\/p>\n<table style=\"width: 100%; border-collapse: collapse; margin: 20px 0; font-size: 16px;\">\n<thead>\n<tr>\n<th style=\"background-color: #2f5496; color: #ffffff; text-align: left; padding: 10px 14px; border: 1px solid #d0d7de; width: 6%;\">#<\/th>\n<th style=\"background-color: #2f5496; color: #ffffff; text-align: left; padding: 10px 14px; border: 1px solid #d0d7de;\">Item<\/th>\n<th style=\"background-color: #2f5496; color: #ffffff; text-align: left; padding: 10px 14px; border: 1px solid #d0d7de; width: 16%;\">Owner<\/th>\n<th style=\"background-color: #2f5496; color: #ffffff; text-align: center; padding: 10px 14px; border: 1px solid #d0d7de; width: 10%;\">Done<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr style=\"background-color: #f2f2f2;\">\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">1<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Company&#8217;s D&amp;O risk assessed<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de; text-align: center;\">\u2610<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">2<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Directors and officers requiring cover identified<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de; text-align: center;\">\u2610<\/td>\n<\/tr>\n<tr style=\"background-color: #f2f2f2;\">\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">3<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Company structure reviewed<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de; text-align: center;\">\u2610<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">4<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Underwriting information gathered<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de; text-align: center;\">\u2610<\/td>\n<\/tr>\n<tr style=\"background-color: #f2f2f2;\">\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">5<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Previous and pending claims and circumstances listed<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de; text-align: center;\">\u2610<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">6<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Desired policy limit decided<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de; text-align: center;\">\u2610<\/td>\n<\/tr>\n<tr style=\"background-color: #f2f2f2;\">\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">7<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Retention reviewed<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de; text-align: center;\">\u2610<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">8<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Side A\/B\/C cover compared<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de; text-align: center;\">\u2610<\/td>\n<\/tr>\n<tr style=\"background-color: #f2f2f2;\">\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">9<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Defence-cost provisions reviewed<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de; text-align: center;\">\u2610<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">10<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Exclusions reviewed<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de; text-align: center;\">\u2610<\/td>\n<\/tr>\n<tr style=\"background-color: #f2f2f2;\">\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">11<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Extensions reviewed<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de; text-align: center;\">\u2610<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">12<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Territorial\/jurisdiction terms compared<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de; text-align: center;\">\u2610<\/td>\n<\/tr>\n<tr style=\"background-color: #f2f2f2;\">\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">13<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Insurer and policy wording compared<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de; text-align: center;\">\u2610<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">14<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Premiums compared<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de; text-align: center;\">\u2610<\/td>\n<\/tr>\n<tr style=\"background-color: #f2f2f2;\">\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">15<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Taxes\/charges checked<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de; text-align: center;\">\u2610<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">16<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Quotes confirmed like-for-like<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de; text-align: center;\">\u2610<\/td>\n<\/tr>\n<tr style=\"background-color: #f2f2f2;\">\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">17<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Proposal reviewed before signing<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de; text-align: center;\">\u2610<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">18<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Policy inception confirmed<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de; text-align: center;\">\u2610<\/td>\n<\/tr>\n<tr style=\"background-color: #f2f2f2;\">\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">19<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Policy documents received and checked<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de; text-align: center;\">\u2610<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">20<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Claims notification procedure understood<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de; text-align: center;\">\u2610<\/td>\n<\/tr>\n<tr style=\"background-color: #f2f2f2;\">\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">21<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\">Renewal date recorded<\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de;\"><\/td>\n<td style=\"padding: 10px 14px; border: 1px solid #d0d7de; text-align: center;\">\u2610<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2>Conclusion<\/h2>\n<p>Buying a D&amp;O policy is a structured process. First, understand the company\u2019s exposure and who needs cover. After that, give insurers accurate information, compare quotations like-for-like, and read the wording before you commit. Then pay, check the documents, and keep the policy under review.<\/p>\n<p>Since directors are usually protected as insured persons under a policy the company buys, the company\u2019s choices directly affect their protection.<\/p>\n<p>To start comparing quotations, visit SecureNow\u2019s <a href=\"https:\/\/securenow.in\/commercial-liability-insurance\/director-officer-liability-insurance\"><em>Directors &amp; Officers Liability Insurance<\/em><\/a> page. Later, if a claim arises, read <a href=\"https:\/\/securenow.in\/insuropedia\/how-to-file-a-do-insurance-claim\/\"><em>how to file a D&amp;O insurance claim<\/em><\/a>.<\/p>\n<p><em>This article is general information. Therefore, coverage depends on the specific policy wording. Insurance is the subject matter of solicitation.<\/em><\/p>\n<h3>Frequently Asked Questions<\/h3>\n<h4>Q) How do I buy a D&amp;O insurance policy?<\/h4>\n<p><strong>A)<\/strong> Assess the company\u2019s exposure, decide who needs cover, and gather underwriting information. Decide the limit, retention, and extensions, then obtain quotations through a broker, insurer or online platform. Finally, compare quotes like-for-like, complete the proposal accurately, select the policy, pay the premium, and review the documents.<\/p>\n<h4>Q) What information is required to buy D&amp;O insurance?<\/h4>\n<p><strong>A)<\/strong> Insurers commonly ask for company details, the nature of the business, revenue and financial information, board and ownership details, locations and subsidiaries, listing status, claims history and pending matters, existing insurance, and the limit and retention sought. However, requests vary by insurer.<\/p>\n<h4>Q) Can D&amp;O insurance be bought online?<\/h4>\n<p><strong>A)<\/strong> Yes, the process can start online where a platform offers it. First, you provide company details and receive quotations to compare. Insurers may still need underwriting information and a signed proposal before issuing the policy.<\/p>\n<h4>Q) How to buy a D&amp;O insurance policy online from SecureNow?<\/h4>\n<p><strong>A)<\/strong> At the time of writing, the quote form on SecureNow\u2019s D&amp;O page asks for contact details and the company\u2019s industry, then shows quotations to compare. After that, the company selects cover, completes the insurer\u2019s proposal, pays the premium, and receives the policy. However, steps may vary by insurer.<\/p>\n<h4>Q) Can directors buy a D&amp;O policy for themselves?<\/h4>\n<p><strong>A)<\/strong> Usually the company buys the policy, and directors are insured persons under it. However, a director cannot normally buy a copy of the company\u2019s policy independently. Some insurers may offer individual-director products, but availability and terms vary.<\/p>\n<h4>Q) What is the Buying Process of D&amp;O Insurance?<\/h4>\n<p><strong>A)<\/strong> Assess the requirement, identify insured persons, gather information, decide cover and limit, obtain quotes, compare them, review the wording, complete underwriting, select the policy, pay the premium and finally review the policy after purchase.<\/p>\n<h4>Q) How should I compare D&amp;O insurance quotes?<\/h4>\n<p><strong>A)<\/strong> Align the limit and retention first. Then compare Side A\/B\/C cover, defence-cost terms, exclusions, extensions, territory, the policy wording, and the premium including taxes. Finally, only compare prices once the cover is comparable.<\/p>\n<h4>Q) What should I check before buying a D&amp;O policy?<\/h4>\n<p><strong>A)<\/strong> Check who is an insured person, the insuring clauses, definitions, exclusions, retention, defence-cost provisions, claims-made and notice terms, the retroactive date, prior-litigation provisions, territory, extensions and sublimits.<\/p>\n<h4>Q) Does the cheapest D&amp;O policy provide adequate coverage?<\/h4>\n<p><strong>A)<\/strong> Not necessarily. For example, a lower premium may reflect a lower limit, higher retention, narrower cover or more exclusions. Compare quotes like-for-like before deciding.<\/p>\n<h4>Q) What documents may be required for D&amp;O insurance?<\/h4>\n<p><strong>A)<\/strong> Commonly, a signed proposal form. In addition, depending on the insurer, it may also ask for recent financial statements, board and shareholding details, and information on claims or regulatory matters. However, the exact list varies by insurer and risk.<\/p>\n<h4>Q) How are D&amp;O insurance premiums paid?<\/h4>\n<p><strong>A)<\/strong> Usually in full before cover starts, by bank transfer or other methods the insurer accepts. In addition, GST applies. Cover generally begins only once the premium is received, in line with Section 64VB of the Insurance Act, 1938.<\/p>\n<h4>Q) What should I check after buying a D&amp;O policy?<\/h4>\n<p><strong>A)<\/strong> Check the schedule, wording and endorsements, insured persons, limits, retention, exclusions and extensions. Also note the claims notification process and contacts, and record the renewal date. Finally, tell the insurer about significant business changes where the policy requires it.<br \/>\n<script type=\"application\/ld+json\">\n{\n  \"@context\": \"https:\/\/schema.org\",\n  \"@type\": \"FAQPage\",\n  \"mainEntity\": [\n    {\n      \"@type\": \"Question\",\n      \"name\": \"How do I buy a D&O insurance policy?\",\n      \"acceptedAnswer\": {\n        \"@type\": \"Answer\",\n        \"text\": \"Assess the company\u2019s exposure, decide who needs cover, and gather underwriting information. Decide the limit, retention and extensions, then obtain quotations through a broker, insurer or online platform. 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Compare quotes like-for-like before deciding.\"\n      }\n    },\n    {\n      \"@type\": \"Question\",\n      \"name\": \"What documents may be required for D&O insurance?\",\n      \"acceptedAnswer\": {\n        \"@type\": \"Answer\",\n        \"text\": \"Commonly, a signed proposal form. Depending on the insurer, it may also ask for recent financial statements, board and shareholding details, and information on claims or regulatory matters. The exact list varies by insurer and risk.\"\n      }\n    },\n    {\n      \"@type\": \"Question\",\n      \"name\": \"How are D&O insurance premiums paid?\",\n      \"acceptedAnswer\": {\n        \"@type\": \"Answer\",\n        \"text\": \"Usually in full before cover starts, by bank transfer or other methods the insurer accepts. GST applies. Cover generally begins only once the premium is received, in line with Section 64VB of the Insurance Act, 1938.\"\n      }\n    },\n    {\n      \"@type\": \"Question\",\n      \"name\": \"What should I check after buying a D&O policy?\",\n      \"acceptedAnswer\": {\n        \"@type\": \"Answer\",\n        \"text\": \"Check the schedule, wording and endorsements, insured persons, limits, retention, exclusions and extensions. Note the claims notification process and contacts, and record the renewal date. Tell the insurer about significant business changes where the policy requires it.\"\n      }\n    }\n  ]\n}\n<\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Introduction Buying D&amp;O insurance is different from buying a standard business policy. In particular, there is no fixed product off the shelf. Instead, the insurer needs to understand the company, its board, and its risks before it can quote. Likewise, the buyer needs to understand the policy wording before accepting it. 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