Directors and officers (D&O) liability insurance is insurance coverage intended to protect individuals from personal losses if they are sued as a result of serving as a director or an officer of a business or other type of organization.

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D&O policies also typically do not cover certain specified forms of misconduct, including fraudulent or criminal acts, losses relating to illegally obtained remuneration by Ds&Os, and other actions taken for their personal profit, if the proscribed conduct is established by a final, non-appealable adjudication.