---
title: "What Doesn’t D&O Insurance Cover?"
description: "Common D&O exclusions include fraud, personal profit, prior litigation, and bodily injury or property damage."
canonical: "https://spot.insure/insurance-faq/directors-officers/what-doesnt-do-cover"
page-type: "faq-question"
updated-at: "2026-09-25"
---

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# What Doesn’t D&O Insurance Cover?

Common D&O exclusions include fraud, personal profit, prior litigation, and bodily injury or property damage.

Some exclusions have exceptions or apply only after a specified finding. Review the exact wording and any insured-versus-insured exclusions.

Exclusions are not interchangeable: an insured-versus-insured clause may have exceptions for derivative demands, a prior-acts restriction can bar older conduct, and a conduct exclusion may depend on a final adjudication. A Side C grant also may be limited to securities claims rather than every claim against the company. Compare the wording and exceptions, not only an exclusion heading. Ask how defense costs are handled while an allegation remains unresolved, and check endorsements that modify the base form.

## Related Questions

- [What Does D&O Insurance Cover?](https://spot.insure/insurance-faq/directors-officers/what-does-do-cover)
- [Does D&O Cover Fraud?](https://spot.insure/insurance-faq/directors-officers/do-cover-fraud)
- [Does D&O Cover Criminal Acts?](https://spot.insure/insurance-faq/directors-officers/do-cover-criminal-acts)
- [Does D&O Cover Fines?](https://spot.insure/insurance-faq/directors-officers/do-cover-fines)

## Related Coverage

- [Directors and officers](https://spot.insure/coverage/directors-officers)

## Sources

1. [SR 19-12: Statement Regarding Insurance Policies for Directors and Officers](https://www.federalreserve.gov/supervisionreg/srletters/sr1912.htm). Board of Governors of the Federal Reserve System; Applicability; Policy Considerations for Indemnification Insurance Policies; form/document version July 23, 2019. Accessed 2026-09-25.
2. [Private Company Directors and Officers Liability Coverage](https://asset.trvstatic.com/download/assets/pdo-3001.pdf/d66bd58e63c911ee99d14294a32ecb95). Travelers Casualty and Surety Company of America; I.A–C p.1; III.A–E pp.1–2; III.J–M pp.2–3; IV Exclusions pp.3–4; VI Defense and Settlement pp.6–7; form version PDO-3001 Ed. 01-09. Accessed 2026-09-25.
3. [Directors and Officers insurance](https://www.iii.org/article/directors-and-officers-insurance). Insurance Information Institute (Triple-I); What D&O covers; What’s excluded?; The added value of protecting company leaders. Accessed 2026-09-25.

More answers: [Directors and Officers (D&O) Insurance FAQ](https://spot.insure/insurance-faq/directors-officers).

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