Directors and Officers
In today’s business climate of corporate transparency and accountability, an organization’s officers and directors face a myriad of employment-related exposures.
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Coverage Options
D&O Coverage Includes:
Coverage for Individuals
Protects personal assets against legal claims arising from their decisions.
Protection for the Organization
Shields the entity itself from legal claims
Reimbursement to the Organization
Covers the organization’s contractual obligation to indemnify directors and officers serving on the board
Exclusions:
Fraud Exclusions
Eliminates coverage for losses due to dishonest or fraudulent acts or omissions, or willful violations of any law or rule.
Retention Requirements
Policies typically require the insured to retain a portion of the risk uninsured. This amount varies, so speak to your KRGinsure representative for guidance.
Customization Options
In addition to the standard provisions of D&O insurance, additional forms of coverage can be added to create adequate protection for the unique risks your directors and officers face. These may include:
- Entity coverage
- Payment priority for insured individuals
- Severability of the insured as well as severability of the application
- Coverage over time for past, present, and future directors and officers
- Pay on behalf clause
- Duty to defend clause
Some D&O policies can also be endorsed to provide employment practices liability (EPL) coverage and/or fiduciary liability.
KRGinsure Brokers, Your Coverage Expert
Whether you’re a non-profit, privately held, or public company, your business can benefit from a D&O policy. Since there is no standard policy, a professional broker is invaluable when purchasing D&O coverage. At KRGinsure, we make it our priority to understand your organization and assist you with customizing policy language to meet your unique needs.