Directors and Officers

Litigation against a company’s management doesn’t just affect large, public companies; it also affects small private companies. Many privately-held smaller companies and non-profit organizations may underestimate, or not even recognize, their need for such coverage. Companies are regularly sued by: employees, competitors, investors, shareholders, customers and even government entities. These policies help protect the assets of the company, and also the personal assets of its directors who can be held personally liable. Through our markets we can offer Directors and Officers as standalone coverage, or it can be combined with employment practices liability and fiduciary liability under a Management Liability policy. We can also add Kidnap and Ransom as a separate policy.

Who needs coverage?

  • For profit companies
    • a) Publicly Traded
    • b) Privately Held
  • Non-Profit companies

Coverage Details and options:

  • Duty to defend
  • Full prior acts
  • No consent to settlement provision (Hammer Clause)
  • Third party discrimination available
  • Unlimited extended reporting period for former directors and officers
  • Fiduciary Liability coverage can be added up to $1,000,000
  • Separate limits for directors and officers liability and employment practices liability
  • Defense outside the limit or inside
  • Coverage for monetary and non-monetary claims included
  • Final adjudication wording
  • Kidnap and ransom
  • Worldwide application of coverage
  • Automatic coverage for acquired subsidiaries
  • Retention waiver for early settled claims
  • $100,000 sub-limit for class-action wage and hour claims defense. Single plaintiff claims not sub-limited (Non CA & FL risks, by endorsement)
  • HIPPA fines and penalties coverage (by endorsement)
  • Fiduciary includes Voluntary Compliance and Delinquent Filer Penalties coverage

Coverages and exclusions differ by carrier and by state. Specific concerns can be discussed with an underwriter.

800.635.4742, ext 98302