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Directors & Officers (D&O) Liability insurance is designed to protect the people who serve as directors or officers of a company from personal losses if they are sued by the organization’s employees, vendors, customers or other parties. The coverage, which usually protects the company as well, covers legal fees, settlements, and other costs associated with wrongful act allegations and lawsuits.
Our partner, Travelers Insurance, recommends that any business, including private companies, public companies, and financial institutions with a board of directors should have Directors & Officers liability insurance coverage. Claims against companies and their directors and officers are increasingly common.
If your business works with vendors or government entities, or has employees or customers, you may have exposure that could make your organization and its executives vulnerable to costly legal action.
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