Directors and officers of organizations need special coverage that is often referred to as d&o policy. Learn more about what this coverage can do for you and why you should have it to protect in case of an accident or potential problem.
Protection for Individuals
Having D&O coverage protects the personal liability of the individuals at a company, according to Financial Guaranty Insurance Brokers, Inc. This type of coverage is also useful if the directors and officers get sued along with the company itself. Having this type of protection can make it easier to focus on work while providing peace of mind.
Covers in a Variety of Situations
Having a d&o policy is important because directors and officers are under constant watch from a variety of different groups such as shareholders, employees, and other parties who might have an interest in using the company, if necessary. The policy can be written to meet specific needs, so it is a better fit for your company.
An organization that has directors and officers should have special d&o coverage. This can protect the individuals at the company in a variety of different situations, no matter who is considering suing them. Having this protection in place can make a difference for everyone involved in the organization.