Section 9.14 Indemnity From Corporation

• Library: Insurance Practice 2015

Whether an officer or director has a right to be indemnified by the corporation for individual liability will determine whether it is the corporation or the individual insured who must pursue coverage under the director and officer policy. Although this is primarily a matter of internal policy, the ability of a corporation to indemnify its directors and officers is frequently circumscribed by state corporation statutes. For example, § 351.355, RSMo 2000, provides that any Missouri corporation may indemnify...