This work regards to the study of two closely related legal institutions, the first of them, the officers and director’s liability system and, the second one, their own liability insurance, better known in the insurance world as D&O insurance.
In the first part, among other things, is critically analysed, what persons are considered as officers and directors under the Colombian Law, what principles govern their conduct and essentially their particular liability regime before the corporations they work for, stockholders and stakeholders.
As for the D&O insurance, an extensive analysis is done regarding some fundamental aspects of liability insurance and specifically about claims made basis insurances. Subsequently, the main coverage and exclusions of the directors and officer’s liability insurance are reviewed.
Autor. Nicolás Uribe Lozada