DIRECTORS AND OFFICERS (D&O)
A type of liability insurance covering Directors and Officers for claims made against them while serving on a board of directors and/or as an officer. D&O Liability Insurance can be written to cover the directors and officers of for-profit businesses, privately held firms, not for profit organizations and educational institutions.
Other distinctive features of a Director and Officers policies are that they: (1) are written on a claims-made basis, (2) usually contain no explicit duty to defend the insureds (when covering for-profit businesses), and (3) cover monetary damages but exclude bodily injury (BI) and property damage (PD).
Your business faces many risks, but when those risks include legal claims and litigation, it is your directors and officers who often have the greatest exposure.
How much risk can your CA Business absorb?