D & O (Directors and Officers) Basics

D & O protects against claims from stake-holders, employees and clients against a company that also are aimed individually at directors and officers. Claims typically stem from errors in judgment, breaches of duty and wrongful acts in connection with company business. The company/organization buys coverage on behalf of its directors and officers to indemnify them against claims. Without this coverage, the personal assets of directors and officers could be at risk.

Directors and officers may be liable if they:
-misappropriate a corporate asset for personal use or use elsewhere;
-commingle business and personal assets;
-breach their legal duty to the company; or
-fail to disclose potential or actual conflicts of interest

Who Needs It?

Companies and organizations may need this coverage in order to attract quality board members and top executives. If you sit on a board or are a director than you should insist the organization has D&O coverage.

Contact Us

Contact a member of our commercial team for more information..