MLchartDataset catalogue

Failure to insure exclusion

Term · Insurance and risk management · MLC-T-INS-001449

A provision in a directors and officers (D&O) liability insurance policy that denies coverage for claims alleging that the insured failed to procure or maintain adequate insurance for the corporation or its employees. This exclusion prevents D&O policies from becoming a backstop for other types of insurance that should have been in place. It reinforces the principle that D&O coverage is for management's wrongful acts, not for gaps in other insurance programs.

Table 1. Record
IdentifierMLC-T-INS-001449
FieldInsurance and risk management
SubjectManagement Liability
Record as JSON 
{
  "id": "MLC-T-INS-001449",
  "term": "Failure to insure exclusion",
  "field": "Insurance and risk management",
  "definition": "A provision in a directors and officers (D&O) liability insurance policy that denies coverage for claims alleging that the insured failed to procure or maintain adequate insurance for the corporation or its employees. This exclusion prevents D&O policies from becoming a backstop for other types of insurance that should have been in place. It reinforces the principle that D&O coverage is for management's wrongful acts, not for gaps in other insurance programs.",
  "subject": "Management Liability",
  "url": "https://mlchart.com/terminology/insurance/failure-to-insure-exclusion/"
}

Record 1,317 of 3,748 in Insurance and risk management terminology (MLC-0106). Request the full dataset.