Directors & Officers
Directors and Officers Liability is often confused with Errors & Omissions Liability. The two are not synonymous; Errors & Omissions is concerned with performance failures and negligence with respect to your products and services, not the performance and duties of management. Generally it is a good idea to carry both policies.
Directors and officers owe three distinct duties to the company they lead:
> Loyalty – They must put the interest of the corporation above their own.
> Obedience – Their actions must be driven by the corporate charter and bylaws.
> Diligence (Care) – They must demonstrate both expediency and knowledge.
Breach of these duties may result in a D&O lawsuit that puts the personal assets of the directors and officers at risk.
We welcome the opportunity to assist with all your Director’s & Officers Liability Insurance needs.
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