Directors and officers (D&O) liability insurance protects the personal assets of corporate directors and officers, and their spouses, in the event they are personally sued by employees, vendors, competitors, investors, customers, or other parties, for actual or alleged wrongful acts in managing a company.

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The insurance, which usually protects the company as well, covers legal fees, settlements, and other costs. D&O insurance is the financial backing for a standard indemnification provision, which holds officers harmless for losses due to their role in the company. Many officers and directors will want a company to provide both indemnification and D&O insurance.

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D&O policies can take different forms, depending on the nature of the organization and the risks it faces. We can advise as to your best coverage options for this specialized field. These policies are generally purchased by the organization to cover a group of individuals rather than by the individuals themselves.

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