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 5 SOURCES OF LIABILITY AND THE CONSEQUENTIAL LOSS: D&O COVERED RISK

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Directors' and Officers' Liability Insurance

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5

SOURCES OF LIABILITY AND THE CONSEQUENTIAL LOSS: D&O COVERED RISK

I. THE RELATIONSHIP BETWEEN THE COMPANY AND ITS DIRECTORS

5.1 In terms of defining the relationship between a company and its directors, there are two competing theories, viz. “the “organic”1 and “agency” theories. English case law has, in the main, endorsed the former.2

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