Serving on the board of directors of a corporation entails significant risk - particular the risk of being sued. To mitigate the risk, Corporation legislation in Canada generally allows corporations to indemnify directors for legal proceedings that arise out of action taken by a corporation. In addition, person who serves on the board may enter into an individual indemnification agreement with the corporation. If indemnification rights are contained in corporate bylaws or in an item agreement, is there any need for their directors & officers liability insurance? Explain.