About Directors and Officers ("D and O") Insurance
Directors and Officers ("D and O") insurance is a type of liability insurance that protects the personal assets of your company or organization's officers in the event they sued by clients, employees and/or stockholders for something which occurs during the performance of their duties. Few people are willing to serve in a position that exposes their personal finances to risk, so while not mandated by law, it is customary to provide D and O insurance for your directors and officers.
Choosing Directors' and Officers' insurance is a complicated process. In addition to premiums and deductibles, various stipulations, exclusions, endorsements and coverage offsets come into play, and the costs of D&O insurance have risen sharply in recent years. The coverage you should have will vary according to the activities, size, needs and requirements of your company or organization. Bottom line: Directors' and Officers' insurance is not a "one size fits all" product, and If you don't fully understand your options it's easy to end up either underinsured or paying for costly options which you don't need!
For over 32 years, James D. Miller Insurance Services has been helping area businesses and organizations like yours choose the D and O insurance coverage that best suits their needs. Call us at 201-986-1427 for a FREE initial consultation!