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Directors & Officers Insurance for Small Businesses

Directors and officers carry a lot of responsibility on their shoulders. While you help drive your organizations' success, you are also exposed to a number of potential claims and allegations. Shareholders, employees, regulators and competitors could all find reasons to hold an organization's directors and officers personally liable for claims. That is why more and more small businesses today are relying on Directors and Officers (D&O) Insurance to provide their top talent with coverage for these claims.

About Directors and Officers Insurance

Turn on the evening news, and there is a good chance you'll see a story about a former director or officer of a large company being sued for alleged mismanagement. The exposure risk for directors and officers is not limited to major corporations. Even those who serve on the boards of small companies, non-profit groups, and educational institutions could be held personally liable for alleged errors and omissions. In order to retain the best talent, organizations need to consider offering their board members Directors and Officers (D&O) Insurance.

What is D&O Insurance?

In the most general terms, D&O Insurance provides coverage for directors or officers of a company for claims made against them in relation to their duties as directors or officers. D&O Insurance is a type of Errors and Omissions (E&O) policy, specifically designed for those serving as board directors or as officers. When a director or officer's management decisions are alleged to have led to adverse financial consequences then D&O Insurance is designed to provide coverage for the monetary costs related to a claim against that director or officer.

When is D&O Insurance Needed?

Directors and officers face a number of different exposures that could lead to them being found personally liable for claims. In the current highly litigious environment, it is not unusual for directors and officers to be accused of regulatory and securities violations, alleged misrepresentations, conflicts of interest, and breaches of fiduciary duties. These allegations can come from many different sources, including government regulators, shareholders, competing organizations, employees, and customers. When the directors and officers are found personally liable then the costs they may have to bear could be astronomically high.

Who is D&O Insurance for?

D&O Insurance is not something that just large corporations need. In fact, even directors serving on the boards of small companies can find themselves being held personally liable for alleged management errors. D&O Insurance can be a suitable option for any of the following organizations:

  • Private companies
  • Public companies
  • Nonprofit organizations
  • Educational institutions
  • Financial institutions

Also, it is worth keeping in mind that if you want your organization to attract the best talent, you will need to consider offering D&O Insurance. Many top-quality candidates for board positions will refuse to consider an employment offer unless they can be assured that D&O Insurance will be provided to help cover them if they are found personally liable for any alleged errors or omissions.

How Do I Get D&O Insurance?

In order to help protect your board directors or officers and attract the very best talent possible, you need to look into the benefits of D&O Insurance. By filling out the form at the top of this page, you will be taking the first and most important step towards protecting your organization's top talent. A representative from AmVenture Insurance Agency, Inc. will quickly get in touch with you and show you how D&O Insurance can help your organization thrive in an increasingly competitive and litigious environment.

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