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What Is Directors & Officers Insurance?

Every decision you make puts you at risk for a D&O lawsuit. Make sure you're protected.

Have you ever served on a board before? Perhaps you are on the board of a Fortune 500 company, or volunteering on the board of your church? Regardless of the circumstances, if you are a director or officer of any organization, you need Directors and Officers liability protection. Make sure that the organization carries D&O insurance before you join their business.

What exactly is Directors and Officers (D&O) coverage?

Directors and Officers liability insurance protects the personal assets of a corporate director or officer, and their spouse, if they are personally sued because of an actual or alleged “wrongful act” during the scope of their responsibilities in the management of the company.

So what types of things can a director or officer be sued for? This is by no means an exhaustive list, but here are some common D&O claim examples:

1. Failure to comply with state and federal regulations or laws.

2. Failure to provide a safe work environment.

3. Losses due to mismanagement or operational failures.

4. Exceeding the scope of authority granted to a company officer.

Every decision that you make, or should have made, puts you at risk for a D&O lawsuit. If you are a business owner, board member or officer of a company, it is essential that D&O liability insurance be a part of your insurance protection. Contact your independent agent today, and make sure that you are properly protecting the leadership of your organization.