{"id":534,"date":"2021-09-28T12:18:08","date_gmt":"2021-09-28T16:18:08","guid":{"rendered":"https:\/\/bestdamnreviews.com\/?page_id=534"},"modified":"2021-10-03T14:25:36","modified_gmt":"2021-10-03T18:25:36","slug":"d-o-insurance","status":"publish","type":"page","link":"https:\/\/bestdamnreviews.com\/d-o-insurance\/","title":{"rendered":"D&O Insurance"},"content":{"rendered":"

D&O Insurance<\/span><\/h1>\n
\"D&O
Awwwwwwe NOOOOOOO!<\/figcaption><\/figure>\n

So you have an awesome company! You have directors and officers in upper management positions. They are awesome, but they are also human. And guess what? They make mistakes. Mistakes that piss customers off. Pissed off customers sue!<\/p>\n

Do you want to have to pay for your employee\u2019s mistakes? Didn\u2019t think so.<\/p>\n

Then damn straight, you had better protect your company\u2019s directors and officers from litigation.<\/p>\n

This is where directors and officers liability insurance (D&O coverage) comes in. D&O insurance is pretty much a necessity these days. It\u2019s a pretty confusing category of insurance. One that many people have a hard time understanding.<\/p>\n

We\u2019ll make it easy for you!<\/p>\n

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Get FREE D & O Coverage Quotes<\/strong><\/span><\/span><\/p>\n

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What Does Directors Insurance Do?<\/span><\/h2>\n

First, directors and officers insurance protects against a breach of \u201cduty\u201d by the directors and officers. This insurance pays for \u2018wrong\u2019 decisions, (lawsuits against them) whether they are guilty of the accusation or not.<\/p>\n

For instance, let\u2019s say Kathy owns a large land surveying company. She acquires another land surveying company and she\u2019s super excited about it. It has 300 employees and has been in business for 5 years, doing well.<\/p>\n

\"directors
Uh-oh. Someone’s not happy!<\/figcaption><\/figure>\n

The rules of the old company and the rules of the new company do not mesh. Kathy re-writes the contracts of the acquired employees. A month later, they all sue her, claiming that their contracts are unfairly changed.<\/p>\n

She\u2019s glad she\u2019s covered by D&O insurance!<\/p>\n

Each insurer defines its D&O policy in its own way, but it generally includes any actual or alleged act or omission, error, misstatement, misleading statement, neglect or breach of duty by an Insured Person in the discharge of their duties.<\/p>\n

Directors insurance should cover you for things like:<\/p>\n