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What Is Directors and Officers Liability Insurance?

Directors and Officers Liability Insurance (D&O) or Management Liability provides coverage for a business and its corporate directors and officers (and their spouses) from lawsuits brought by customers, donors, shareholders, competitors, suppliers or other parties for the actual or alleged wrongful acts that arise out of managing a business. This coverage includes legal fees with the settlements, among other defense costs. This insurance is vital for any business looking to attract the best officers and directors as they regularly expect a standard “hold harmless” agreement. Private and public businesses or non-profit organizations with a board or advisory committee require this coverage as they all face litigation risk from bankruptcy, fraud, misuse of funds, errors in judgement and many other mismanagement claims. Defense costs alone can be overwhelming for an organization at any revenue level.

Businesses’ needs for Directors and Officers Liability Insurance vary on a case-by-case basis. If you’re not sure about what Directors and Officers Liability Insurance coverage to get for your business, feel free to use our different contact options to discuss with one of our expert insurance brokers. We're happy to guide you through your business's needs.