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D&O Insurance | Directors and Officers Liability InsuranceWhat is Directors and Officers Liability (D&O) Insurance?Directors and Officers (D&O) insurance is a form of management liability insurance which is designed to cover directors and officers of a company, as well as the company itself, against claims and lawsuits for wrongful acts committed in their capacity as directors or officers of the company. Who needs D&O insurance coverage?Any company can be the subject of a D&O lawsuit. While directors and officers of public companies represent a large share of D&O lawsuits, directors and officers of private companies and not-for-profit entities are also at risk for a D&O lawsuit. In addition to shareholders, D&O lawsuits are also frequently brought by customers, employees, competitors and regulators. According to a study published by Chubb in 2010, the average cost of a D&O lawsuit in the prior five years was $225,682, including settlement, judgment and defense. Because the cost of D&O complaints and lawsuits can be substantial and time consuming, it is important for companies to have D&O insurance coverage. Call us at 1-877-245-5887 if you have any questions regarding D&O insurance or wish to discuss your insurance needs. We're looking forward to earning your business. |
