Double excess coverage

Term · Insurance and risk management · MLC-T-INS-001216

A basis on which outside directorship liability coverage responds for a director serving on another organization's board at the company's request: the company's policy pays only after the outside entity's indemnification and its own directors and officers insurance are exhausted or unavailable. It appears in D&O policies and in private equity management liability programs. It is one step less restrictive than triple excess, which also requires the company's own indemnification to be exhausted or unavailable.

Table 1. Record
Identifier	MLC-T-INS-001216
Field	Insurance and risk management
Subject	Management Liability

Record as JSON

{
  "id": "MLC-T-INS-001216",
  "term": "Double excess coverage",
  "field": "Insurance and risk management",
  "definition": "A basis on which outside directorship liability coverage responds for a director serving on another organization's board at the company's request: the company's policy pays only after the outside entity's indemnification and its own directors and officers insurance are exhausted or unavailable. It appears in D&O policies and in private equity management liability programs. It is one step less restrictive than triple excess, which also requires the company's own indemnification to be exhausted or unavailable.",
  "subject": "Management Liability",
  "url": "https://mlchart.com/terminology/insurance/double-excess-coverage/"
}

Record 1,042 of 3,708 in Insurance and risk management terminology (MLC-0106). Request the full dataset.