Directors & Officers Liability (D&O)
Private Companies
Any company with a board of directors should obtain D&O insurance. It serves to attract and retain qualified board members.
An insured can include the company (entity coverage), directors, officers, employees and leased employees.
New policy forms have been developed combining D&O Liability with Employment Practices Liability (EPL) coverage. Employment practices claims are now the most common lawsuits brought against a company’s management.
Additional coverage options may be available including:
Amend definition of Insured to include Independent Contractors
Outside Position Liability for Nonprofit Organizations
Marital Estate Extension
Multi-year policies
Quotation for an Initial Public Offering (IPO)
Duty to Defend
Punitive Damages, where insurable by law
Fiduciary Liability
Underwriting information required:
Completed, signed and dated original application
Latest audited financial statement
Copy of Bylaws/Articles of Incorporation
Copy of Employee Handbook and sample employment application