Personal profit exclusion

{
  "id": "MLC-T-INS-002562",
  "term": "Personal profit exclusion",
  "field": "Insurance and risk management",
  "definition": "A common exclusion in directors and officers (D&O) liability insurance policies that denies coverage for claims arising from an insured individual gaining an illegal personal profit or advantage. This exclusion applies when an insured director or officer has unjustly enriched themselves through their position. It reinforces the principle that D&O insurance is not intended to cover deliberate illegal acts for personal gain.",
  "subject": "Management Liability",
  "url": "https://mlchart.com/terminology/insurance/personal-profit-exclusion/"
}