Coverage under Homeowners/Personal Umbrella
The liabilities of directors and officers are outside the scope of conventional homeowners or personal umbrella policies that may be carried by directors and officers themselves.

Most personal umbrella policies have an exclusion of liability arising out of the insured’s activities as a director or officer of any corporation or association. Even in the absence of a directors and officers exclusion however, a homeowners or umbrella policy may not cover the directors and officers exposure; the business pursuits exclusion often eliminates coverage.