Directors and Officers Liability
Since directors and officers can be held liable for the acts of a company, Directors and Officers Liability Insurance (usually referred to as simply "D&O") is perfect for publicly traded companies with a corporate board, or any private or non-profit organization that has Directors and Officers on staff involved in the overall management of the company. In fact employers are able to secure top talent for their organization by minimizing their exposure through this type of policy. The policy provides financial protection for the directors and officers of an organization arising from legal action brought against them for alleged wrongful acts (omissions, errors, neglect or breach of duty) in their capacity within the company. This includes attorney fees, settlements and judgments. Premiums are based on nature of business and how much coverage is secured.
It’s important to note that any act of willful criminal intent by a director or officer is not covered. Usually Employment Practices Liability, and sometimes Fiduciary Liability, can be included in D&O Liability.
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