Director & Officer (D&O)

Directors & Officers (D&O)


What is D&O?:

Directors and Officers is a type of liability insurance that covers defense costs and damages arising out of actual or alleged wrongful acts and lawsuits brought against an organization’s board of directors and/or officers.  This type of coverage also helps to protect the directors and/or officers themselves, as they can be held personally liable in these lawsuits.

Who Needs D&O?:

Any corporation, public, private or non-profit with a board and/or officers.

Examples of D&O Claims:

  • An investor in a bar/restaurant alleges misrepresentation, breach of contract, and breach of financial duty resulting from allegations of the company’s failure to compensate him properly for the company’s profits. The investor alleges that the directors and officers diverted the profits from his venture into their own.
  • A software company signs a 6 year deal with a major corporation providing software writing services for that time period in accordance with the corporation’s needs. The software company misses promised delivery dates. The corporation’s developed software crashes and becomes inoperable. The corporation then withholds payments until certain delivery dates are met. The software company tells the Corporation that it needs payments in order to remain active in order to complete the work. The corporation brings suite, alleging that the software company represented that it could produce the software needed for the contracted time frame and was financially stable enough to handle the long-term deal.  The corporation is claiming misrepresentation and deceptive trade practices.

How to Get a D&O Quote:

Complete this D&O application [click here to download]
Please send the completed application, along with current company financials (Profit loss statement, or pro-forma) to Quotes@benefitexperts.com

Benefit Experts Insurance Agency is your company’s one-stop shop for Employee
Benefits (Health, Dental, Vision, Life, Disability, etc.) and Risk Management /
Commercial Insurance Policies (General Liability, Work Comp, Directors &
Officers, Professional Liability, etc).

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