This policy defends and indemnifies an organization’s board of directors and company officers if they are sued by employees, vendors, competitors, investors, customers, or other parties while conducting business on behalf of the organization.
What does Directors & Officers Liability Insurance protect against?
It protects your company, covers any legal fees, settlements, and other costs for members of the board and company officers. Many officers and directors will want a company to provide this type of insurance before joining the organization. Many board members do not realize that their personal assets are at risk.
What types of lawsuits do directors and company officers face?
Directors and company officers can face many different types of lawsuits. Tuman Global Solutions protects the following legal matters:
- Failure of fiduciary responsibility that causes financial losses and bankruptcy
- Squandering of company funds
- Compliance with workplace laws
- Conflicts of interest
- Absence of corporate governance
- Intellectual property issues
- Sexual Harassment
- Wrongful termination
Who else should have Directors & Officers Liability Insurance?
This insurance is not just designed for public companies that have boards and officers. Not-for-profit organizations can potentially face litigation and can benefit from this type of insurance.