Directors and officers of corporations can be held personally liable for their management and oversight. That’s why most business professionals agree that full spectrum Directors and Officers Liability coverage is essential, especially if you’re planning to grow your business. Good D&O coverage serves a number of functions, ranging from shielding your top people from frivolous claims to protecting them against liability for making decisions regarding hiring, firing, and promotions.
Directors and officers can be liable for sexual harassment, discrimination, wrongful termination, failure to promote, and even for malpractice. In addition, D&O specific claims include unfair trade practices, liable slander, and failure to properly manage or ensure a safe working environment. While many insurance plans will provide protection for some or all of these liabilities, there is no “one size fits all” solution. You need a custom-tailored liability package to ensure the most complete protection at the lowest cost. Our professionals provide the expertise for you.
You can get different levels of D&O insurance to suit your company’s needs. Indeed, there are many different types of insurance designed for protecting corporate officers and directors. The hard part is figuring out what kinds of coverage are right for your business. After all, dramatically overpaying for unnecessary coverage can be just as harmful as not being covered.
At Axis Insurance Services, LLC, we can work with you to develop and design the most appropriate D&O liability coverage for your budget. We understand that it’s difficult for your directors and officers to perform at their best if they don’t feel that they are protected by your company’s policies. Browse our website for more information about specific coverage ideas, or e-mail a representative for an application to get started.