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Frequently Asked Questions

Question: What is D&O?

Answer: D&O is short for Directors & Officers Liability. A D&O policy provides coverage for Fund directors, officers, members, general partners and employees for claims alleging errors, omissions, misleading statements, or breach of duty. A D&O policy will also reimburse the Fund for its indemnification to individuals as required in the Fund's by-laws. In the event the Fund is unable to indemnify the individuals - for example, if the Fund is insolvent - then the policy will provide first dollar coverage for the individuals. D&O policies pay for defense costs as well as the cost of a judgment or settlement.