Directors & Officers
Directors & Officers (D&O) Insurance: What it Covers
D&O policies are designed to provide coverage against personal losses, given that the insured individuals are sued personally (due to their actual or alleged illegal acts) in organizational management. In addition, these policies usually cover legal fees and, in some cases, settlement costs. Organizations of all sizes can obtain D&O insurance policies for employee coverage.
D&O policies can offer coverage against different types of claims that attest to wrongdoing, such as:
- Stealing the firm’s intellectual assets
- Improper usage of company funds
Note: A D&O insurance policy is not liable for covering actual stealing. These policies effectively help protect against allegations in case no incident of actual malpractice happens. D&O policies do not cover fraud, personal profiting, bodily injury, and/or property damage.
D&O Insurance: Important Coverage
D&O policies help protect against different types of claims. First, however, it is essential to understand the types of coverage provided under the insurance policy. Some typical coverage includes:
- Coverage for an organization’s directors and officers in the event that the organization cannot compensate the individuals for the losses (typically legal defense costs and settlements).
- Reimbursement to the organization while compensating the directors and officers for losses.
- “Entity Coverage”- covering the organization when the company and its officers are named under a lawsuit.
- Coverage against shareholder lawsuits.
- D&O policies offer coverage against the personal assets of the directors and officers in the event that they are sued. Your organization’s general liability insurance may not provide coverage to individuals.
- One can be sued individually and separately from the organization. They might need D&O coverage for legal fees in their defense, even if they are not guilty.
Massey Clark Fisher is an invaluable resource when you are trying to find the insurance coverage you need.
March 30 2022
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October 14 2020
Hank is very knowledge about the insurance industry and provides trustworthy service to his clients. - Esther Zapata Ruderman
September 11 2020
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August 19 2020
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August 10 2020
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June 16 2020
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June 02 2020
Quick response. Very helpful in finding a policy that's right for my needs! Friendly staff!
June 02 2020
Hank, I made the change last year to use your services. Your staff is always friendly and extremely professional.
June 02 2020
My company partners with local insurance providers as we help clients with purchasing a home. Hank and his team are responsive and have helped clients become homeowners in Palm Beach County.
June 02 2020
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March 06 2020
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December 17 2019
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December 12 2019
Massey, Clark, Fischer is a professional insurance agency located in West Palm Beach area. They are always willing and ready to help you with any insurance needs one may have. Not only this Agency has years in business, but they are extremely knowledgeable and prompt when it comes to service. Their policyholders and employees are Very important to them. I am proud to be part of of this agency.
October 12 2018
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October 11 2018
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July 31 2018