Directors and Officers Liability Insurance
Why is D&O Insurance Important?
Company officers and Board of Directors face a unique risk in today’s challenging business, legal, and regulatory environment. They may be personally sued for acts related to their management responsibilities. Commercial liability and umbrella policies don’t insure against management liability claims. Therefore, having a dedicated D&O insurance policy is crucial to safeguard against potential financial losses and legal complications that could arise from such lawsuits.
What does Directors and Officers Insurance Cover?
D&O insurance helps protect executives against lawsuits, providing them with a safety net in case they are implicated in legal matters arising from their decisions.
Employees, creditors, vendors, and customers are some of the parties that file claims against companies and their officers. Adding a D&O insurance policy to an overall risk management program protects the personal assets of both company officers and Board members. This insurance also covers legal fees, settlements, and other related costs, offering peace of mind to those in leadership roles.
GNY offers D&O liability insurance through Brite Insurance Agency, a wholly owned subsidiary of GNY Insurance Companies. Contact your independent broker to assess your business risk and determine if directors and officers insurance coverage is needed.