wrongful act The event triggering coverage under many professional liability policies. Typically, a wrongful act is defined as an act, error, or omission that takes place within the course of performing professional services.
https://www.irmi.com/online/insurance-glossary/terms/w/wrongful-act.aspx
wrongful act - The event triggering coverage under many professional liability policies.
https://www.irmi.com/online/insurance-glossary/terms/w/wrongful-act.aspx
An example of a professional liability policy that covers wrongful acts is director and officers (D&O) insurance policy. D&O insurance policies seek to protect an insured company and its officers from the financial implications of legal actions against the company or its directors and officers for wrongful acts they purportedly commit in such official capacities.
https://www.insuranceopedia.com/definition/4901/wrongful-act-insurance
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https://www.irmi.com/online/insurance-glossary/terms/w/wrongful-act.aspx
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https://www.irmi.com/online/insurance-glossary/terms/w/wrongful-act.aspx
Capacity or insured capacity or covered capacity: The role or position of the insured individual in a D&O claim when acts. at issue occurred (or are alleged to have occurred). Under a D&O policy, directors and officers are insured for acts taken in. their capacity as directors or officers.
http://www.willis.com/Documents/Publications/Services/Executive_Risks/Willis_D&O_Glossary2.pdf
B-side coverage: Reimbursement coverage under a D&O policy that pays the company back for amounts it pays out on. behalf of its directors and officers for defense costs, settlement amounts or judgments. Most D&O claims fall under the B-. side of the policy, since most companies indemnify their directors and officers.
http://www.willis.com/Documents/Publications/Services/Executive_Risks/Willis_D&O_Glossary2.pdf
Wrongful Act. Definition - What does Wrongful Act mean? A wrongful act refers to any error or breach of conduct covered under professional liability insurance, which provides the officers and directors of an insured company financial protection from the liability arising from alleged erroneous acts.
https://www.insuranceopedia.com/definition/4901/wrongful-act-insurance
For a personalized walk-through of IRMI Online, Request a Demo. wrongful act. The event triggering coverage under many professional liability policies. Typically, a wrongful act is defined as an act, error, or omission that takes place within the course of performing professional services. Links for IRMI Online Subscribers Only: PLI X.E; D&O Coverage Guide
https://www.irmi.com/online/insurance-glossary/terms/w/wrongful-act.aspx
Wrongful Act Definition - What does Wrongful Act mean? A wrongful act refers to any error or breach of conduct covered under professional liability insurance, which provides the officers and directors of an insured company financial protection from the liability arising from alleged erroneous acts.
https://www.insuranceopedia.com/definition/4901/wrongful-act-insurance
what is a wrongful act for directors and officers
A wrongful act refers to any error or breach of conduct covered under professional liability insurance, which provides the officers and directors of an insured company financial protection from the liability arising from alleged erroneous acts.