All directors, managers, CEO’s, and CFO’s all make mistakes believe it or not, but when they do, they also need insurance to protect their families and their personal assets. Directors & Officers Insurance is what you need as a leader of a company if you get caught in a lawsuit. There are lots of people who can try to sue you, like your clients, your employees, people who have invested in your company, vendors that are contracted with your company, and even other companies that are your competition. They could sue you for wrongful acts that you have done while managing the company.
What Does Directors & Officers Liability Insurance Cover?
D&O insurance usually covers things and situations like:
- legal fees
- settlements
- defense costs
- shareholder lawsuits over stock performance
- decisions that exceed an officers authority
- HR issues
The list goes on and on and it is best to have everyone insured properly in case of a claim. Illegal acts are usually NOT covered by D&O, including fraud, personal profiting, pending and prior litigation, & bodily injury/property damage.
There are different structures to a Directors & Officers Insurance policy and each structure covers differently. Make sure to talk to one of our licensed and very experienced brokers if you need Directors & Officers Insurance. Having D&O Insurance can keep and grow your strong leaders in the company, lead to more investment opportunities, and most likely cover your company’s legal fees. Call 949-450-1822 or email info@unity1.com to get started on a free quote.
Who Needs D&O?
If you have heard that only huge public companies need Directors & Officers Insurance, that is not true. Non-profits, private and public companies should hold D&O, as the leaders of those companies are exposed to lots of risks. Get some peace of mind and call today to get your Directors & Officers policy going!
