MLchartDataset catalogue

Priority of payments provision

Term · Insurance and risk management · MLC-T-INS-002668

A clause within a Directors and Officers (D&O) liability insurance policy that dictates the order in which claims are paid when the policy limits are insufficient to cover all losses. This provision typically prioritizes payments to the directors and officers themselves before reimbursing the corporation. It is a standard feature in most D&O policies.

Table 1. Record
IdentifierMLC-T-INS-002668
FieldInsurance and risk management
SubjectManagement Liability
Record as JSON 
{
  "id": "MLC-T-INS-002668",
  "term": "Priority of payments provision",
  "field": "Insurance and risk management",
  "definition": "A clause within a Directors and Officers (D&O) liability insurance policy that dictates the order in which claims are paid when the policy limits are insufficient to cover all losses. This provision typically prioritizes payments to the directors and officers themselves before reimbursing the corporation. It is a standard feature in most D&O policies.",
  "subject": "Management Liability",
  "url": "https://mlchart.com/terminology/insurance/priority-of-payments-provision/"
}

Record 2,688 of 3,708 in Insurance and risk management terminology (MLC-0106). Request the full dataset.