With a large number of the 415 total lawsuits filed in 2017 against businesses according to Forbes, companies with senior executives may want to take another look at directors and officers insurance. Officers insurance in Babylon protects the business in the event of a lawsuit due to the negligence of the officers.
Growing and expanding your business comes with great reward but also an increase in liabilities. Often some areas get sidelined during the startup phase that must be addressed. A healthy business environment and good data protection can help decrease your liability.
Many of the lawsuits against businesses increasingly focus on the personal accountability of c-level executives. Vendors, customers and employees understand their rights. Officers insurance in Babylon offers individual coverages in addition to covering the business itself against fraudulent and criminal acts of c-level executives.
Many investors now require businesses to be more accountable for their actions. They may choose to influence the company’s behavior to improve practices. People can now be held accountable for the shortcomings of the business.
Though not compulsory, many businesses can benefit from adding officers insurance in Babylon to their portfolio. Protect your business against the financial losses of a lawsuit against an officer of the company.