As you research insurance needs for your business, there are many things to consider. Making sure your employees have adequate health insurance and workers compensation protection are top concerns. You may not initially think about liability coverage, but it should be a critical part of your insurance package as well.
What is D&O Insurance?
Directors & Officers Liability (D&O) insurance protects the executives in your company when a claim is written against decisions or actions they’ve taken in the course of their routine job duties. D&O liability coverage include:
- Protection for officers and directors of your company as individuals
- Coverage for the company as a whole if it gets sued in addition to the individual managers
- Reimbursement to the company for any payments it has paid due to the director’s error