What is Worldwide Coverage?
Worldwide Coverage is a term commonly used in the realm of Directors and Officers (D&O) insurance. It may refer to the scope of the insurance policy, which provides coverage for liabilities incurred anywhere in the world. Worldwide Coverage generally includes all countries that are legally recognized by the governing body.
Worldwide Coverage in More Detail
In the context of D&O insurance, Worldwide Coverage is a broad form of insurance that covers any liabilities that arise in any country recognized by the governing body. This means that the insurance policy provides protection for the directors and officers of a company from any liabilities that may arise from their actions in any country.
Worldwide Coverage also provides protection for directors and officers against any liabilities that arise from any actions taken within the company itself, regardless of where those actions take place. This type of coverage is particularly important for companies that operate in multiple countries, or have subsidiaries in other countries, as it allows them to be sure that their directors and officers are protected from any liabilities that may arise due to their actions, regardless of where those actions take place.
In summary, Worldwide Coverage is a form of D&O insurance that covers any liabilities that arise in any country legally recognized by the governing body, as well as any liabilities that arise within the company itself, regardless of the country in which the action takes place. It provides a comprehensive level of protection for directors and officers of a company, helping them to manage their risk in any country.
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