Directors & Officers Insurance
Did you know that 36 percent of all organizations have reported a directors and officers claim in the last 10 years?
Directors and Officers Insurance provides coverage for the cost of defense and damages (awards and settlements) arising out of wrongful act allegations and lawsuits brought against an organization’s board of directors and/or its officers.
In these times where people will sue for just about any reason, your company’s officers and board of directors may be targets of damaging financial lawsuits. Directors and officers are exposed to an even greater risk based on the qualities for which you hired them – creativity, vision, and business strategy – making it more difficult to recruit top-tier and elite talent.
All organizations, whether publicly or privately held, and the people who lead them, are susceptible to many Directors & Officers (D&O) exposures. These can include securities litigation, regulatory actions, allegations of misrepresentation and other breaches of fiduciary duties. Mergers and acquisitions, signs of financial weakness and apparent conflicts of interest can all be signs for shareholders, competitors, customers, employees and government entities to make demoralizing claims against directors and officers.
Directors and Officers claims are becoming more and more common. Directors and officers themselves can be held personally liable for these claims. To not only attract but retain qualified executives and board members, it’s essential to have a comprehensive insurance program in place.
At LF Insurance Group, Directors and Officers Liability Policies have a broad definition of claim and cover the defense costs, settlements, and judgments associated with claims. LF Insurance D&O policies not only help provide protection for the assets of the organization and the personal assets of its directors and officers, but also help protect the personal assets of a director or officer’s spouse, domestic partner, or the deceased director or officer’s estate.
Call us with any questions about Insurance or schedule an appointment. Let LF Insurance help you secure your future with the right Insurance policy. 303.422.2018