Although there are many situations in which D&O insurance would be needed, organizations take out D&O insurance primarily to protect three things:
- The personal assets of a company’s directors and officers;
- The company’s assets;
- The company from reimbursement costs to indemnify directors and officers for their losses, as well as from defense costs associated with lawsuits and investigations.
Essentially, D&O provides personal asset and balance sheet protection for private companies, public companies, and non-profits organizations (and their leaders).
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Why is this important?
D&O insurance plays an important role for companies looking to attract and retain a top management team in an environment where heightened risk and increased oversight are part of corporate life. Purchasing D&O insurance will not prevent claims from happening; however, D&O insurance should be viewed as one of the necessary components of corporate governance.
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Why choose Fenchurch Faris?
Our team has deep expertise in D&O risk and coverage options. We can advise you on the best insurance solutions to protect you against the financial impact of claims made against officers and company directors. Since every director’s situation is different and warrants expert advice, we can work with you to develop an insurance package to cover your risks.