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Understanding D&O Severability Provisions THE UNDESIRABLE CONSEQUENCE of rescission actions has caused many directors to seek ways to eliminate or limit the risk of rescission.During ...

By John D. Hughes, Robert D. Laurie | Updated on September 01, 2004

Understanding D&O Severability Provisions

THE UNDESIRABLE CONSEQUENCE of rescission actions has caused many directors to seek ways to eliminate or limit the risk of rescission.

During the soft insurance market, corporate executives demanded, and insurers routinely included, severability provisions in D&O applications and policies. Severability provisions effectively separate the good from the bad insureds as each insured is treated separately.

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