A program available under the National Flood Insurance Program (NFIP) that allows participating insurers to issue NFIP flood insurance policies, in contrast to policies issued directly by the NFIP. WYO insurers write the coverage on their own “paper,” but the NFIP reinsures 100 percent of the coverage. Regardless of whether NFIP or a WYO insurer issues the policy, the coverage provided is identical. WYO insurers employ exactly the same policy terms that are included in policies issued directly by NFIP. The majority of flood insurance policies are written via the WYO program.

The event triggering coverage under many professional liability policies. Typically, a “wrongful act” is defined as an act, error, or omission that takes place within the course of performing professional services.
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UK: Loss arising from any wrongful act is the insured event under a directors’ and officers’ liability insurance. It is defined within the policy in these terms: ‘any actual or alleged breach of duty breach of trust neglect error misstatement omission breach of warranty of authority or other act done wrong fully attempted by any Director or Officer.