Directors and Officers Insurance
High Quality Directors And Officers Insurance
What is Directors and Officers Insurance?
Directors and Officers insurance (D&O) coverage is designed to protect individuals from personal losses if they are sued due to their service as an executive or director of a company. A D&O insurance coverage protects against personal damages and can assist a corporation or organization in reimbursing legal bills or other costs in litigation defending such persons.
Do I Need D&O Insurance?
The size and type of your company determine it. However, D&O insurance should be thoroughly addressed in general. So, while D&O insurance isn't required for every firm, it's safe to say that any company with a board of directors would be cautious about seeking D&O insurance.
What Does D&O Insurance Cover?
When the insured is held responsible, D&O insurance often covers legal bills, settlements, and financial damages. Failure to comply with legislation, lack of corporate governance, creditor claims, and reporting mistakes are all common issues among higher organization members. Fraud, criminal conduct, and disputes between managers from the same organization are not protected.
The Benefits of Directors and Officers (D&O) Liability Insurance
D&O insurance can cover all court costs and legal spending incurred by the executives or firms in defending themselves. It can also cover a portion or all of the settlement fees. Both employers and executives profit from director's and officer's liability insurance. It shields CEOs and board members from personal culpability in the event of litigation while also protecting profit and nonprofit employers from having to pay these costs out of pocket.
Save Time and Money with Lia Insurance
If you need Director's & Officer's Liability insurance and are looking to get a quote on a new insurance policy or simply want to talk to a licensed agent about your current policy, give Lia Insurance Agency a call today. We do the hard work for you and shop for different Director's & Officer's Liability insurance carriers to find the best deal for you! It is better to have insurance coverage and not need it than to need it and not have it. Let us protect your business!