Directors and officers insurance is one of the most misunderstood insurance products. These policies are complex, can be written and structured a number of different ways, and contain policy language that varies greatly from insurer to insurer, so it's no wonder that even sophisticated executives are often confused by their terms. It’s also an insurance product that many organizations cannot afford to be without. Below we address some of the more basic misunderstandings policyholders often have when it comes to D&O insurance.