What does Corporate Reimbursement Coverage mean? Read on to discover the definition & meaning of the term Corporate Reimbursement Coverage - to help you better understand the language used in insurance policies.
Corporate Reimbursement Coverage
Coverage under a directors and officers (D&O) liability policy covering the corporate organization's obligation to indemnify its directors and officers for claims resulting from their acts in conjunction with the organization. This obligation is usually stated in either the corporate charter or the corporate bylaws and in some cases is mandated by state statute. The coverage provided by this section of a D&O policy is also referred to as "Side B" coverage.
We hope the you have a better understanding of the meaning of Corporate Reimbursement Coverage.