Frequently Asked Questions (FAQs) Directors’ and Officers’ Liability Insurance (DOLI) Policy

1. What is the DOLI policy? The Directors’ and Officers’ Liability Insurance (DOLI) policy is an insurance cover designed to protect the government-owned and -controlled corporation (GOCC), government financial institution (GFI), agency, or commission – and its directors/trustees and officers – against the cost of litigation and liability in the course of performing the official acts of its governing Board and Management. 2. Why do GOCC directors/trustees and officers need the DOLI? GOCC directors/trustees and officers can be held personally liable for the actions they perform in relation to their duties in the corporation. Thus, they have to be protected...