What does Executive of ficer mean? Read on to discover the definition & meaning of the term Executive of ficer - to help you better understand the language used in insurance policies.
Executive of ficer
As defined in the standard commercial general liability (CGL) policy, an executive officer is a person holding any of the officer positions created by the named insured organization's governing document. Executive officers, like other employees, have insured status under the CGL policy of the organization; but unlike other employees, their insured status is not subject to the fellow employee exclusion.
We hope the you have a better understanding of the meaning of Executive of ficer.