NEW YORK CITY—When given the choice of several insurance types to buy, it's important to check off a D&O policy, which will protect you and your company in many types of legal challenges.

Not sure what that is? Don't fret: AIG's Louis Lucullo, chief underwriting officer of financial lines, North America, explained it in an exclusive video at GlobeSt.com's offices.

“Exposures in D&O are changing,” Lucullo said. He discussed:

• What this insurance is and why it should be purchased
• Examples of situations in which this coverage is needed
• How to procure a policy in overseas markets
• The biggest threat to companies that makes this insurance vital