We all want to attract and retain quality staff for our companies. Regardless of talent and qualifications, we're all human. We are prone to making mistakes. Even the most seasoned business professionals, including board members and C-Level executives, are prone to human error.
So how does your company protect itself from exposures to its Directors and Officers?
Directors and Officers Insurance, often called "D&O" is a type of professional liability insurance providing coverage for individuals serving as board members or officers of a company.
D&O Insurance covers exposures such as:
AAccording to Chubb Insurance,
1 out of every 6 executives has experienced
a D&O related lawsuit in the past 5 years.
No matter how prudently our managers may act and how strong their ability to make good judgments might be, the smallest errors can result in huge losses for the company, in which they can be held personally liable. These exposures won't affect your organization alone... they can also harm your stakeholders!