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D&O vs E&O

Directors & Officers Liability Insurance is often confused with Errors and Omissions insurance. The two are not synonymous; Errors & Omissions is concerned with performance failures and negligence with respect to your products and services. Directors and Officers Insurance is concerned with the performance and duties of management. Generally, it is a good idea to carry both Directors & Officers Liability Insurance and Errors and omissions insurance.

 D&OE&O
Definition of Wrongful Act

Any actual or alleged act, error or omission, misstatement, misleading statement, or breach of fiduciary duty or other duty by an Insured Person in his or her capacity as an Insured Person.

 

Any Employment Practices Wrongful Act by an Insured Person.          

 

Any Securities Activity Wrongful Act 

 

Any Employment Practices Wrongful Act, Securities Activity Wrongful Act.by the Company (as long as entity coverage has been purchased). 

Any actual or alleged act, error or omission, misstatement, misleading statement, or breach of fiduciary duty or other duty committed by an Insured in rendering, or in failing to render, Professional Services.
Definition of Securities Activity Wrongful ActAny actual or alleged violation of the Investment Co. Act of 1940, Securities Act of 1933, Securities and Exchange Act of 1934.n/a
Definition of Employment Practices Wrongful ActWrongful Termination, demotion of or failure or refusal to hire or promote; discrimination; workplace harassment; retaliatory treatment; negligent evaluation; breach of implied contract or agreement arising out of personnel manual.n/a
Definition of Professional Servicen/aAdvice given or services performed for others by the Company or by any Outside Service Provider on behalf of the Company in connection with the Company's financial investment operations. 
                
Professional Services includes Professional Supervision, the provision of computer and Internet services, administrative services and publications prepared or written by any Insured, provided such services are rendered in connection with the Company's financial or investment operations.
            
Definition of Professional Supervisionn/aInsured's selection of an Outside Service Provider and its oversight and direction of the performance o such Outside Service Provider in providing Professional Services.