Directors & Officers Liability Insurance
Protect Your Directors & Officers from Liability
Directors and Officers Liability Insurance (D&O Insurance) is a type of policy that protects those who serve as business directors or officers from personal losses in the event that they are sued. D&O coverage applies if the business is sued by its employees, vendors, customers, or any other parties.
Why Is D&O Liability Insurance Important?
This type of insurance policy is important because of the sheer volume of D&O claims that a business is vulnerable to, even if they are small or average-sized. This can include securities litigation, gross negligence, regulatory compliance, wrongful termination, breaches of fiduciary duty, and allegations of misrepresentation.
A D&O policy can help build out a well-rounded risk management strategy for your organization. It can help attract top-tier executives, officers, and other board member candidates and retain them for years to come.
What is Covered in Directors & Officers Insurance?
While the specifics of all policies will vary slightly depending on the provider you choose, most D&O insurance covers defense costs, settlements, and other financial costs tied to any allegations of a wrongful act and the resulting lawsuit. Other examples of the types of situations that are covered under a directors and officers liability insurance policy include:
- Accusations of mismanaged funds
- Serious grievances that are filed by employees
- Instances of slander, libel, or copyright infringement
- Failure to meet mandatory regulatory compliance (intentionally or unintentionally)
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Our Carriers
We quote all the top-rated insurance carriers in Georgia, including
Humana,
Anthem,
Blue Cross,
Aetna,
United Healthcare,
Oscar,
Renaissance,
Cigna,
Kaiser,
Principal,
Guardian,
EMI, and more.
Who Should Have D&O Insurance
With claims against a company and its leadership team becoming increasingly common, D&O insurance is meant to help businesses avoid potentially massive expenses related to this type of litigation. Any organization with a board of directors should have a D&O policy as part of its risk management strategy. This includes private companies, public companies, nonprofit organizations, and financial institutions.
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At BIS Benefits, we offer innovative and creative insurance products that can help all types of businesses find the right group helath or business insurance policy. In addition to prioritizing total client satisfaction, we also want to become a trusted advisor in professional services to your business whenever possible. We want to take care of your insurance needs so you can focus more on running the most successful business you can.
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your own business is protected? Contact our insurance agents today to
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BIS Benefits works with companies across the state of Georgia, including the following cities:
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FAQS
What types of insurance coverage should be paired with D&O insurance?
For full protection, businesses should also consider management liability, employment practices liability, cyber liability, and other additional coverages that cover different aspects of an organization.
What are some common exclusions on D&O policies?
Most D&O policies do not cover fraudulent or criminal activities, bodily injury, property damage, or contractual breaches.
How much does a D&O policy cost?
The cost of a D&O policy can vary depending on the business’s size, financial stability, and industry.
