Directors and Officers
Directors and Officers of all organizations face the potential for liability in the wake of bad outcomes. This is true from the smallest non-profit where donors can allege improper use of donated funds to the largest public company facing a shareholder class action. Despite good intentions, directors and officers may find themselves faced with using their own resources to fund litigation against them. A Directors and Officers Liability insurance product can both protect the personal assets of the individual directors and officers as well as offer protection to the balance sheet of the organization itself.
Directors and Officers Liability is a specialized product with dedicated underwriters. Each carrier has their own, custom policy form. In addition, decisions made at the various federal and state courts as well as at the Supreme Court can impact the availability of coverage or the applicability of law. Because the products are constantly evolving, it is important to engage an experienced, knowledgeable brokerage team. Equally as important is selecting a team with technical understanding and that will focus on obtaining the most enhanced policy language available.
The experienced Executive Liability team at Van Gilder can address concerns, such as:
- Appropriate Named Insured. Coverage for subsidiaries, joint ventures or related companies.
- Appropriate Individual Insureds. Severability and exclusion management.
- Limit structure and selection.
- Understanding carrier strength and commitment to product.
- Additional exposures (insurable and uninsurable).
Every company is different and every carrier offers a product with features that vary. Designing the right program requires understanding of your organization and expertise of the Executive Liability team. Policy language is ever changing and an experienced team is vital to navigate the variety of options.
Private and non-profit entities alike face many of the same liabilities as their larger public company counterparts. We can help you understand the extent of your exposures and help you make an educated decision about purchasing an insurance product.
Contact the Executive Liability team at Van Gilder today to discuss the specific exposures of your company and the insurance solutions that are available.