4 Reasons to have Directors’ and Officers’ Liability Insurance

August 17, 2020 Blog

Help from the Professionals at Business Insurance Center

Growing companies rely on their board of directors and officers to make major decisions. These men and women work diligently to assist in the success of your business. Yet, when they have to make unpopular decisions, it may place them in the position to be on the receiving end of a lawsuit. Few people want to take the chance that their personal assets could be at risk from a commercial decision. Instead, they want assurance their private belongings are safe.

Protect your executives from potential lawsuits when you choose directors’ and officers’ liability insurance from The Business Insurance Center. Our nationwide network of experienced brokers helps you protect quality talent and safeguard your company. Give us a call and let us put our knowledge to work for you.

Benefits of Investing in Directors’ and Officers’ Liability Insurance

Are you looking to secure venture capital or investor funding? Do you want to attract and retain qualified directors? Then you should invest in D&O liability insurance. Here are four benefits to consider:

  1. You can find high quality executives to help your company grow. Few in the C-Suite would want to subject their own and their spouse’s personal assets to a potential lawsuit. With D&O coverage, they don’t have to worry about their private assets being lost if they are personally sued.
  2. Your company is protected in the event of a lawsuit. The protection covers legal fees, settlements, and other costs associated with a claim. It is used as the financial backing for indemnification purposes, which is what holds officers harmless for any losses from their role in the company.
  3. The protection includes a broad range of reasons. You may find your enterprises facing a variety of claims that may be covered. They include a breach of fiduciary duty, misrepresentation of business assets, misuse of company funds, fraud, theft of intellectual property, or lack of corporate governance.
  4. You don’t have to be a large organization to benefit. If you’ve heard that only large, public corporations should have directors’ and officers’ liability insurance, you heard wrong. Companies and non-profit organizations don’t have to have millions of dollars of revenue to benefit from proper coverage. Smaller entities need the protection just like the big companies too.

Protect Your Commercial or Non-Profit Enterprise

Focus more on running your organization efficiently and less on potential lawsuits when you purchase directors’ and officers’ liability insurance. The brokers at The Business Insurance Center not only look at your current policies for gaps in coverage, but they also tailor a plan that meets your company’s needs. We work with leading carriers to give you the best protection at reasonable rates.

Request a quote online or call and speak with a knowledgeable and experienced broker at the Business Insurance Center about purchasing directors’ and officers’ liability insurance for your company or non-profit organization. We have a 24/7 call center to serve you and an online Live Chat operator.

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