What is Directors & Officers Liability Insurance?
Directors and Officers can be targets for lawsuits relating to founded and unfounded wrongful acts such as omissions, improper conduct, misleading statements, breach of duty, and more. This can compromise the reputation of your business and result in financial losses.
Important staff members can also be personally sued by investors, employees, vendors, competitors, and other third parties. D&O insurance covers legal fees, settlements, and can extend to protect the company if it is named in a lawsuit.
What Coverage is Available?
- Loss of documents
- Intellectual property
- Claims against the insured
- Mismanagement of operations or company assets
- Acts beyond authority granted in by-law
- Libel and slander
- Joint venture liability
- Breach of confidentiality
- Violation of certain state and federal laws
- Self-dealing and conflicts of interest