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Directors & Officers Insurance
Directors & Officers Insurance shields your directors, officers, and employees from costly litigation settlements.
Directors and officers (D&O) liability insurance protects the personal assets of corporate directors and officers, and their spouses, in the event they are personally sued by employees, vendors, competitors, investors, customers, or other parties, for actual or alleged wrongful acts in managing a company. For-Profit, Non-Profit, Public and Privately owned organizations can purchase a D&O policy. Each of these have their own unique risks.
A type of liability insurance covering directors and officers for claims made against them while serving on a board of directors and/or as an officer. D&O liability insurance can be written to cover the directors and officers of for-profit businesses, privately held firms, not-for-profit organizations, and educational institutions. In effect, the policies function as “management errors and omissions liability insurance,” covering claims resulting from managerial decisions that have adverse financial consequences.
What's Included?
A typical Directors and Officers Insurance policy includes:
- Side A—Protects a corporation’s directors and officers when the company cannot indemnify the individuals.
- Side B—Reimburses the organization when it indemnifies the individuals, thus protecting the company’s balance sheet.
- Side C—Also known as “entity coverage,” this eliminates disputes of coverage allocation when both the directors and officers and the insured organization are named as co-defendants in a securities lawsuit.
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