Directors and Officers Liability Insurance(D&O)

What Is Directors and Officers Liability Insurance?

Directors and officers liability insurance is just what it sounds like. It’s a type of liability insurance that covers either directors or officers for personal claims made against them relating to their business decisions. It is very similar to E&O liability insurance, though it protects your directors and officers personally and doesn’t just protect the company (though it usually does that, as well). It also provides backing for an indemnification provision, which holds officers harmless for any losses due to their role in your company.

Who Needs D&O Insurance?

D&O insurance is often needed in the transportation and logistics space, though it is designed for just about any director or officer of a for-profit business or private firm. All organizations are vulnerable to a wide variety of D&O exposures, especially as your business grows to serve more clients. Here at Magaya Insurance, we specialize in the transportation and logistics space, so our D&O liability insurance policies are tailored accordingly. 

What Are the Benefits of D&O Insurance?

Unforeseen circumstances can suddenly appear and wreck the financial future of your business. But if you have all your liabilities covered, that doesn’t have to happen. With D&O liability insurance, if your directors or officers make any decision that leads to monetary damages for someone else, you have insurance to cover the defense costs and monetary damages that may result. (However, it’s important to note that this policy does not cover bodily injury or property damage.)

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