Directors & Officers of public and privately held companies operate in an extremely complex environment in which their personal assets are at stake if they are sued as a result of their corporate duties.
Privately Held CompaniesPrivately held firms often underestimate their D&O liabilities. Being privately owned does not mean that the decisions of your board are immune from public scrutiny. While D&O coverage is critical for publicly owned companies because of their large shareholder base; most lawsuits don't come from shareholders but from creditors, competitors, government bodies and employees. In fact, employee related litigation represents the majority of D&O related claims. This makes comprehensive D&O insurance essential in this litigious business environment. Furthermore, in some cases privately owned companies must have D&O coverage in order to keep or attract high profile board members.
If a company cannot indemnify its directors, officers or employees, either because of the allegations of a lawsuit or as a result of the company’s insolvency, then this financial burden can become the personal responsibility of the company’s directors, officers or employees.
At Green & Associates we have access to 30+ Admitted and Non-Admitted markets to ensure the broadest D&O liability protection available.
Lines of BusinessTo learn more about the coverage that best suits your organization and to purchase insurance contact us.