Company directors, officers, and executive managers having executive power making decisions on behalf of owners or board of directors must covered under liability Insurance policy named D&O and such policy must be attached to an establishment. It provides indemnities against the loss or damages including defense costs in the event of the insured suffering a loss because of a legal action (whether criminal, civil, or administrative) due to alleged wrongful acts in their capacity as directors and officers (as to the individual directors/officers) or against the organization(s) (either for securities claims or – if private–other actions against the organizations themselves).