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 Directors and Officers Liability Insurance (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).