DIRECTORS AND OFFICERS INSURANCE
Leaders lead best when the coast is clear.
With today’s emphasis on corporate transparency and accountability, an organization’s directors and officers face a countless number of exposures. Regardless of your company’s size or mission, the legal costs associated with a lawsuit can be crippling.
Consider our directors and officers insurance services.
Your organization requires the best talent to succeed today. Without having the appropriate level of Directors and Officers (D&O) insurance, you may find it difficult to fill your management team with the right leaders. In the event your organization is sued by your employees, clients, investors, or competitors, D&O insurance protects the personal assets of corporate directors and their spouses and in many cases will cover the company’s legal fees, settlements, and other costs.
Who needs D&O coverage?
Many wrongly assume that Directors and Officers (D&O) insurance is only necessary for publicly traded companies. However, privately held organizations can also be subject to lawsuits against the company, its officers, and the board.
Every private and public company can benefit from D&O coverage, but for some industries management liability insurance is especially important to attracting top talent. Some industries include:
- Financial institutions
- Healthcare providers
- Real estate companies
- Educational institutions
- Non-profits
What benefits can D&O insurance provide to privately held companies?
Legal Cost Reimbursement: D&O policies can provide legal cost coverage for a variety of claims and provide reimbursement to leadership of private companies following allegations of wrongful acts, financial mismanagement, errors in judgment, and negligence. Because D&O lawsuits can occur without warning and easily reach six figures, it’s critical that private company leaders arm themselves with the right policy.
Peace of Mind: D&O claims can come from a variety of sources, including employees, clients, contractors, and government bodies. For private companies, claims from creditors and competitors are particularly common. D&O insurance helps ensure that a private company’s leaders are protected regardless of where claims originate.
An Improved Ability to Attract New Directors: Having a strong D&O policy in place makes board seats more attractive. Purchasing insurance shows prospective leaders that you take D&O risks seriously and are prepared to protect them in the event of a claim.
We’re here to help you succeed.
Let Marshall+Sterling help you determine the right D&O insurance for your organization. Reach out to us today to learn more.
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