D&O policies typically address three key insurance clauses for private companies, commonly known as Side A (covering the directors and officers personally), Side B (covering the company for the indemnity given to the directors and officers) and Side C (covering the company for claims against the company). In a deal, however, the seller will give representations and warranties to the buyer about the company which they are selling. If the buyer found the company they had recently acquired was not compliant with certain laws, for example, which resulted in a breach of a seller’s representation, then this would constitute a breach of contract where coverage would be denied under a D&O policy.