What is Directors & Officers Liability Insurance?

Directors and officers liability insurance covers a company’s directors and officers for claims made against them. Also known as D & O Insurance, the policy protects against allegations of wrongful acts when acting as company executives. Wrongful acts may consist of misstatements, errors, breaches of duty and more. Directors & Officers Liability Insurance is recommended for companies with a corporate board or advisory committee. Many investors and board members may refuse involvement unless this protection is in place.

What are the benefits of Directors & Officers Liability Insurance?

Employees, stockholders and customers are able to make claims against a company and its directors. Whether grounded or frivolous, the resulting legal expenses and reputation damage can be extensive. Directors and officers can be held responsible for the acts of a company, which puts their personal assets at risk. Directors & Officers Liability Insurance protects companies and their officers from criminal, civil and regulatory proceedings from allegations of wrongful acts.

What is errors and omissions insurance?

Errors and omissions (E&O) insurance provides coverage for businesses or individuals for when they are held responsible for a service provided, or failure to provide a service, that did not have the expected results. For doctors, dentists, etc., it is called malpractice insurance. For professionals like lawyers, accountants or engineers, it may be called professional liability. Regardless of its name, E&O insurance covers any errors or omissions that either you have made or that the client perceives you have made.Lorem ipsum dolor sit amet, consectetur adipiscing elit. Suspendisse varius enim in eros elementum tristique. Duis cursus, mi quis viverra ornare, eros dolor interdum nulla, ut commodo diam libero vitae erat. Aenean faucibus nibh et justo cursus id rutrum lorem imperdiet. Nunc ut sem vitae risus tristique posuere.

The number of liability lawsuits against professionals has increased in recent years. Many professionals are at risk of being sued. Small companies can go bankrupt from the cost of lawsuits. Even large companies can experience an impact to their bottom line. An E&O policy covers legal fees and settlements in such scenarios, regardless of fault.

Who benefits from errors and omissions insurance?

If your business provides a service for a fee, you have an E&O exposure. Have you thought about what could happen if the service is done incorrectly or not performed in time? Even with quality employees and risk management practices in place, people still make mistakes. A general liability policy may not cover mistakes that could be made. Errors and omissions insurance will protect your business and its finances if such an event arises.

There is not a standard E&O policy. We will evaluate your business to determine your specific exposures and help you get the coverage you need.

What is Employment Practices Liability?

Employment practices liability insurance is a policy used to cover your risks due to some of the most common employment-related lawsuits, including:

• Sexual harassment
• Discrimination
• Wrongful termination
• Breach of employment contract
• Negligent evaluation
• Failure to employ or promote
• Wrongful discipline
• Deprivation of career opportunity
• Wrongful infliction of emotional distress
• Mismanagement of employee benefit plans

What are the benefits of Employment Practices Liability?

Employment practices liability works to provide the necessary resources to defend your company against a lawsuit or to pay for a claim. Potential sources of these claims could arise from: recruitment practices, employment applications, employment offers, employee orientation process, annual conduct reviews, enforcing performance policies, termination or improper documentation of any of the aforementioned items.