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LoPriore Independent Insurance Agency 426 Main Street Suite 2, Stoneham MA

Call us at 781-438.-375 Email Lopriore Insurance for all of your personal and commercial insurance Send us a message at 781-438-1375

Directors & Officers Liability Insurance – D&O insurance

Protect Your Top Executives

When you need to protect the leaders of your organization, Directors and Officers Insurance can be the right solution for your needs. LoPriore Insurance can help you find the right plan at the right cost.

What is it

Directors and Officers liability insurance also known as D&O Insurance provides coverage for the company, its directors, managers and officers, and employees, for suits alleging that their decision making caused financial harm. It can also pay for legal defense, even when there hasn't been any wrongdoing.

why do i need it

Directors & Officers Insurance protects your company and the directors of your company against claims from stockholders, employees and clients. Since a director can be held personally responsible for acts of the company, most directors and officers will demand to be protected rather than put their personal assets at stake. In addition, investors and members of your board of directors will not be willing to risk their personal assets to serve as a corporate director or officer, no matter how heartfelt their belief in your company. Finally, employment practices suits constitute the single largest area of claim activity under D&O policies. More than 50% of D&O claims are employment practices related.

Who needs it

All types of organizations, whether they are public, private and non-profit, and the individuals who make decisions are at risk to potential claims related to D&O exposures. Directors and Officers Insurance protects against claims for securities litigation, regulatory actions, and allegations of misrepresentation and breaches of fiduciary duties.

FAQs

Can I be held personally liable for claims as a volunteer board member?

It depends on provisions in your organization’s articles of association or incorporation. However, liabilities which aren’t covered by your organization or corporation can be covered by D&O insurance.

Are there any exclusions in my D&O Insurance Policy?

While D&O insurance will provide coverage for defense expenses, financial damages, and settlements, it will not recover wages, fines, taxes, penalties, or multiplied damages. Any claim related to unlawful activity will also not be covered with a D&O policy.

When do claims need to be reported for a potential D&O insurance claim?

Claims should be reported as soon as you become aware of a potential claim.

 

See our Reviews
  • Recently I was shopping for Auto Insurance for first time online since I was on my parents car insurance it was so overwhelming with all the different options and prices I was getting. I came across LoPriore Insurance website that gave me a rate and almost immediately I was contacted by Rich to go over and explain the policy to me. I was able to talk with someone and stop by office if I needed their help. I highly recommend LoPriore Insurance they made it so quick and easy for me!- Danielle B.