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Member, Beacon International Group, Ltd.
Insurers in India are likely to see a surge in demand for directors' and officers' liability policies following a recommendation to make D&O cover mandatory for independent directors of top 500 firms by market capitalization, The Economic Times reported. D&O policies provide directors with personal liability cover for their own and fellow directors' decisions. The policy protects the directors from financial losses arising due to litigations by shareholders, creditors, competitors, suppliers and regulatory bodies.