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Shareholders, venture capitalits and directors and officers themselves will normally require that management be insured against personal liability arising out of management decisions. Directors and Officers ("D&O") insurance is desiged to protect the personal assets of directors and officers in the event of a broad range of claims that might be asserted against them, including claims by shareholders, employees, clients, customers, suppliers, competitors and regulatory bodies to name a few.
Traditionally, D&O insurance applied to cover only the directors and officers and not the corporate entity itself. This often required the "apportionment" of liability between the insured directors and officers on the one hand and the uninsured corporation on the other. In recent years "entity" coverage riders have become available to avoid this problem.
We offer D&O policies both with and with out entity coverage. In addition, D&O policies can also be endorsed to included Employment Practices liability and Fiduciary Liability coverage.
D&O coverage is not the same as Professional Liability or Errors & Omissions ("E&O") coverage. E&O policies apply to liability arising out of the rendition or omission of services to others. D&O coverage is concerned with lapses in the performance and duties of management. Depending upon the nature of a particular insured's operations it may be a good idea to carry both D&O and E&O insurance.
To apply for insurance, simply click here.
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