Decisions, decisions. Company directors make tough ones every day.
But what happens when someone doesn’t agree with a decision you made?
They can sue, that’s what.
Sure, that’s no problem if your pockets are deep. It’s really bad news if they’re not.
Because lawsuits mean big bucks. And the downside of being on the board?
The bucks stop with you.
Because corporate organizations are protected by other kinds of liability insurance. Individuals, are not.
And anyone can sue you for wrongdoing. It could be an investor, claiming you mismanaged their funds. Or an ex-employee with a grudge. It could even be a competitor.
Being on the board of directors shouldn’t mean risking your home, or your life savings.
Whether you run a public, private, or non-profit organization, directors’ and officers’ insurance (D&O) protects your personal assets. Even if the claim’s groundless.
If you’re personally sued, it can cover your defense costs, plus compensation, if you’re liable.
What’s covered can vary from policy to policy.
But D&O generally protects three things: you, your business, and your personal assets, from claims of wrongdoing.
Wrongdoing claims include:
What D&O doesn’t cover is instances when the law’s been broken. Like a director deliberately committing fraud.
Or, claims of wrongdoing made against the company as a whole.
We can build an insurance package to suit your particular business needs. And it’ll just take a few minutes.