Directors and Officers Insurance

Directors and Officers Insurance coverage is for any corporation, private or public company, association or not for profit organization that has a board of directors and officers.

Unlike commercial general liability, that provides coverage for claims arising from property damage and bodily injury, directors & officers (D&O) policy is specialized to provide coverage for a wrongful act, such as an actual or alleged error, omission, misleading statement, neglect or breach of duty committed by a director or officer of the board.

A D&O policy provides coverage for legal defence costs and indemnity coverage to the entity listed on the policy declarations which may include: Individual directors and officers; Reimbursement to the organization for a contractual obligation; Protection for the organization or entity itself.

Without this coverage, you are exposing your own personal assets to the decisions the board is making. No matter the size of board you sit on you are still exposed to litigation costs that could potentially arise from the decisions you are making as part of your work on the board.

What is the Price of Directors and Officers Insurance?

That all depends on the scope of work you are doing and what types of risks may arise from certain situations pertaining to your line of work. if you have any question about directors and officers insurance contact a broker today 1-833-277-9438 or get a commercial quote online here!

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