Directors and Officers Liability - W.E. Davis Insurance

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According to a recent survey conducted by a respected insurance industry analyst, the number of suits filed against directors and officers of for-profit and non-profit organizations is rising at a rate of 15% to 20% annually. These claims threaten the financial security of the individual director or officer as well as the organizations they serve. Many corporations feel the need to purchase directors and officers liability protection in order to attract and retain competent directors and officers.

Lawsuits may arise from your organization’s routine activities.

Although shareholder suits are the largest single source of claims, litigation involving customers, employees and competitors also contributes significantly to the increase in claims activity.

D&O insurance provides coverage for acts and decisions of the Board and Officers.

The following are just a few of the claims allegations that may trigger a liability suit: Negligence; Discrimination; Error; Mismanagement; Misstatement; Wrongful Termination

Features of most D&O Policies

  • Coverage applies on a claims-made basis to all past, present and future directors and officers.
  • Coverage applies to appointed and elected directors and officers.
  • Extended discovery coverage is available at a nominal charge.
  • Coverage amounts begin at $1,000,000 (other options are available).
  • Defense costs are a part of the insurance limit.
  • Trustee and fiduciary liability coverage is available by endorsement.
  • Employee benefit administration liability coverage is available by endorsement.

This is not a policy. For a complete statement of coverages and exclusions, see the policy contract. Subject to specific policy terms and conditions. Contact us to learn more.

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