Directors & Officers (D&O) risks refer to the legal liabilities faced by company leaders in India for breaches of duty, mismanagement, and regulatory non-compliance. The Companies Act of 2013 and SEBI regulations define the duties and liabilities of directors and officers, shaping corporate governance. D&O insurance provides financial protection against legal costs and judgments related to alleged wrongful acts, but policy limitations must be understood. Risks can be mitigated through strong governance, compliance culture, and regular risk assessments.