If you run a business and are new to the many kinds of insurance your business needs, you may find yourself asking: What is D&O Insurance? This is a good question with an important answer, particularly for businesses seeking to minimize their liability. It is a great idea to learn as much as possible about this particular type of insurance, because it may be able to save your business a great deal of money and hassle.
Directors and Officers Insurance
So what is D&O Insurance? Standing for Directors and Officers Insurance, this coverage can protect your business against a range of liabilities relating to the day to day management of the company.
Of all employees, the directors and officers of a given company often face the greatest risk of litigation. This is true in large part because directors and officers are generally given more or less free rein when it comes to the way they conduct business affairs. Management decisions can, on occasion, be cause for claims against a director or officer, but this insurance can help to make sure that directors and managers, as well as the business as a whole, will not have to shoulder these legal costs.
Get the Coverage Your Business Needs
In the end, D&O Insurance is an advantageous way to protect your business and its assets from a key source of liability. With the right insurance provider, you can ensure that your directors and officers receive the coverage they need. Get to know your options and consider investing in this coverage.