Protecting Your Top People
Directors’ & Officers’ Liability (D&O)—Directors’ & Officers’ Liability protects the directors and officers of organizations for decisions they may have made regarding the operation of the business, including mergers and acquisitions, which may cause others a financial loss. Legal costs could range in the tens of thousands of dollars and cause a great deal of hassle to the Director or Officer once again, regardless of merit.
D&O covers legal expenses when board members get sued because of decisions made on behalf of your organization even if it is an NPO. This coverage allows your executive officers to operate without fear of legal reprisals for potential accusations of:
- Fiduciary duty claims. Accusations of misuse of organization funds.
- Claims by employees. Disgruntled team members can claim discrimination, wrongful termination, breach of contract, invasion of privacy, and even infliction of emotional distress if they are unsatisfied with leadership.
- Claims by competitors or similar organizations. Unfair competition, claims of defamation or libel, and trademark issues.