Homeowners vs Renters: Navigating the Insurance Maze
October 17, 2023
Directors and officers liability insurance covers directors and officers for claims made against them while serving on a board of directors and/or as an officer. We’ll work with you to protect your organization’s greatest asset: your senior leadership.
Have you heard about Director’s and Officer’s Liability Insurance? Here’s a quick story to help you understand why this coverage is important:
Anna had a couple of misunderstandings with a director at her job, so she reported it to HR but was quickly dismissed. After the fourth misunderstanding, Anna left the company and filed a lawsuit against the director. Due to the amount of overwhelming evidence against the director, Anna won the suit.
The company paid Anna over $2,000,000 in compensation, a substantial financial loss for them. This can happen to any company, no matter the size. The director was fired and was left bankrupt due to this incident. Directors and Officers Liability Insurance (D&O) provides coverage to directors, officers, and other top executives if they are sued for alleged wrongful acts while serving as top company leaders.
The coverage provided by D&O insurance is designed to protect directors and officers from personal financial losses that may result from lawsuits related to their conduct on behalf of the company. At SOGO Insurance, we can help you determine the appropriate coverage for your specific needs, as D&O insurance is not a one-size-fits-all solution.
One of our insurance advisors will reach out to you to review your information and present you with the appropriate D&O insurance solution. There’s no obligation, just good-old-fashioned advice.
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At SOGO Insurance, we focus on helping clients secure the best insurance rates by working with top-rated national and regional carriers. Our dedicated brokers deliver a personalized experience, empowering clients to choose from various coverage options.
