What does Return of Remuneration Exclusion mean? Read on to discover the definition & meaning of the term Return of Remuneration Exclusion - to help you better understand the language used in insurance policies.
Return of Remuneration Exclusion
An exclusion found within directors and officers (D&O) liability policies precluding coverage for claims arising from allegations that monies were paid to directors or officers without stockholders' approval. Favorable versions of this exclusion state that coverage does, however, apply to the costs of defending such allegations.
More Insurance Terms And Definitions
The Merriam-Webster Dictionary defines insurance as:
b: Coverage by contract whereby one party undertakes to indemnify or guarantee another against loss by a specified contingency or peril.
c: The sum for which something is insured.
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