What is Directors and Officers Liability Insurance?
It protects any officer or director of a company from damages as a result of any wrongful act committed while serving in the director or officer position.
Such situations include:
- misleading statement
- breach of duty
- Some policies may offer the same coverage for employees.
- Many investors require this policy to be put in place before funding a company .
- A D&O policy is different from a Error & Omissions policy in that it specifically zeroes in on the performance of the executive team rather than an error with products or services.