From ‘Severability Clause’ to ‘Innocent Directors Clause’

And all people cried out, ‘what beautiful clothes the emperor is wearing!’

Introduction

For some time now, Dutch Insurance policies providing cover for the liability of managing directors and supervisory directors have included what is known as a ‘severability clause’. This clause of American origin is intended tot secure the rights of managing and supervisory directors vis-à-vis insurers in case the latter invoke non-disclosure.