“管理人员选择花费公司资源购买董事和管理人员的责任保险，保护董事和管理人员免受针对公司及其董事和官员的诉讼中的个人财务责任”（Chalmers，Dann＆Harford，2002，p.609 ）。董事和高级人员责任保险，以下简称D＆O保险是企业为保护其董事和高级管理人员在其利益相关者（包括股东或债权人）提起诉讼时免于承担个人责任而购买的保险（Lin et al。，2013）。当投资者，消费者或其他利益相关者提出要求董事和高级职员直接负责的索赔（Liao＆Li，2017）时，保险可以保护董事和高管继续与公司合作。尽管一般责任保险覆盖范围足以涵盖与业务相关的风险，但其他风险可能与董事和业务人员相关，远超过一般责任保险中规定的保险范围条款。在这种情况下，为了保护董事和官员免受来自客户或客户的责任法诉讼，D＆L保险是一项重要的要求。它保护董事和管理人员免受客户或客户关注的诉讼和个人财务责任问题的潜在风险。
“Managers choose to spend corporate resources to purchase directors’ and officers’ liability insurance, which protects directors and officers from personal financial liability in lawsuits brought against the firm and its directors and officers” (Chalmers, Dann & Harford, 2002, p.609). Directors and Officers liability insurance, hereafter D&O insurance are an insurance purchased by an enterprise to protect its directors and officers from personal liability in the event of litigation brought by its stakeholders including shareholders or creditors (Lin et al., 2013). The insurance protects the directors and officers in their continuing work with the company, when investors, consumers or other stakeholders raise a claim making Directors and Officers directly liable (Liao & Li, 2017). While general liability insurance coverage would be sufficient to cover risks associated with the business, it could so happen that other risks could be associated with directors and the officers of the business that would far exceed the coverage provisions defined in the general liability insurance. In such cases, in order to protect the directors and officers from liability law suits coming from clients or customers, the D&L insurance is a significant requirement. It protects the directors and officers from the potential risk of lawsuit and individual financial accountability issues that are of concern for the client or the customer.